Sterling exchange rates have had a mixed week , with political issues weighing down the Pound in the early part of the week, coupled with inflation dropping off to 2.9% from 3.1% last month.
Inflation is now at a frustrating figure as far as the market is concerned as with the drop off it will stem the flow of the chance of any further interest rate movements from the Bank of England, however it is still high enough that it will have a negative impact on the economy, as it leaves consumers with less money in their pocket to spend.
Unemployment figures remained fairly steady on Wednesday and did not create any surprises and then finally yesterday Retail Sales figures, although they were poor they did come out better than expectations which led to a slight rise in the value of the Pound.
All in all the week has been fairly flat in general, brexit talks are continuing and will no doubt keep on providing the market with speculative news to feed off of and the current position for Theresa May will also be monitored very closely too.
Next week we have the inflation report, the budget and growth figures as far as important economic data releases are concerned and I feel like we may have a much more volatile week to look forward to.
It is a tricky time should you be in the process of buying or selling an overseas property, timing is crucial and from one week to the next the change in rates can cost or make you thousands of pounds.
Should you be in this position and would like a helping hand to judge the timing of your transfer, along with getting the very best rate for your exchange when you come to do it, then we are welcoming new clients to get in touch with us.
Feel free to email me (Daniel Wright) on email@example.com and I will be more than happy to contact you personally to help tailor a game plan for your specific needs.