The pound has remained relatively stable today with minimal movements on the market. GBPUSD rates remain close to 2 month lows, and we’ve seen large volume trades from the greenback to sterling as clients look to maximise returns on this transfer.
There is a lack of sterling focused economic data on the market tomorrow, so we could see speculation drive rates GBP rates. We do have German inflation data out at 09:00 and Canadian consumer price index data (inflation) out at 12:00. if you are looking to move Euros or CAD, one of PSF’s specialist brokers will be able to assist, so fill in the form on the right for more information.
Overall I’m expecting UK based analysts to be focusing on GDP data out next Wednesday. This may shed some light on the likelihood of an interest rate hike in the UK currently priced in on consensus, for November.