The pound has continued to struggle as Unemployment remains at 7.2% and no members of the Bank of England vote for a change in policy. I expect we will see the pound rise higher still against the euro but this could be way off in the future. All in all if you have a currency transaction to consider soon then why not make some careful plans in case rates fall further and you don’t see them rise higher in your timescales.
This Friday we have the PSNB (Public Sector Net Borrowing) figures which will shed further light on the outlook for the currency pairing here. Sterling could potentially have fallen further if we had seen the Unemployment rate tick higher but it remained level indicating a stabilisation in the labour market. I expect that now we will see the pound remain supported and potential upside down the line could be worth waiting for if you have time!
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