Sterling bounces back against the Euro

The pound has gained just over half a percent so far today against the Euro, after hitting 6 month lows yesterday.  Sterling has rallied agasint a few currencies including the South African Rand, taking interbank Levels back above the 11 mark. 

The pound is also holding ground vs. the US Dollar, as the interest rate outlook in the states remains negative for the greenback.  The FED reserve are not expected to raise interest rates for some time.  As this results in investors getting poor returns on the US currency, it reduces demand and therefore the price falls.

US inflation figures are released at 13:30, along with jobless claims data.  Both can cause market volatility, so if you have a cable (GBPUSD) requirement keep a close eye on the market, or for  more information, just fill in the form on the right.