Sterling up before unemployment figures tomorrow (Mike Vaughan)

GBPCHF Exchange Rates Reach Highest Levels Since Mid-March

Sterling exchange rates have pushed back passed the 1.1850 level against the single currency before the much anticipated UK unemployment data released tomorrow morning at 09:30. Expectations are for figures to remain at 7.8% but any shift down and look for sterling strength as this was a key point highlighted by Mark Carney as a trigger point for raising interest rates. In Mark Carney’s speech two weeks back he indicated that the level of 7% unemployment was a target for the Bank to  consider increasing interest rates and a shift towards this could push the pound further tomorrow.

Should you have an upcoming exchange to arrange and you would like to benefit from the currency service we provide then please contact the office on 01494 787478 or email me with a brief overview of your trade requirement and I will happily run through the various contract options available and how we can save you money over your current provider. Email Mike at [email protected]