If you’ve got a currency requirement coming up soon then I hope our website has been helpful in keeping you up to date with what’s been happening to Sterling exchange rates this week. The major news for the Pound came in the form of very strong UK Retail Sales yesterday morning which gave the Pound a boost and which saw Sterling tip to its highest level against both the Euro and the US Dollar for March.
On Monday revised Q4 Eurozone GDP figures come out as well as Eurozone Retail Sales for year on year and month on month. With the UK having had a good run this week, next week could provide quite a large amount of volatility for GBPEUR exchange rates particularly as the ECB publish their interest rate decision on Thursday afternoon. My personal feeling is that we’ll see further losses for the Euro as Sterling remains strong and therefore an attractive yield for global investors at the moment who are attracted to the growth currently occurring in the UK.
US Federal Reserve Chair Janet Yellen will be giving a speech on Monday afternoon as well and further Dollar strength could see Euro weakness as investors also choose the security of the safe haven US Dollar.
For those of you looking at the Australian Dollar exchange rates keep your eyes on the RBA interest decision due out on Tuesday morning. With the RBA having recently announced an end to their interest rate cutting cycle this has seen the Aussie gain a huge amount of strength against the Pound, Euro and US Dollar during March.
With the Australian governor Glenn Stevens having announced a refocus for the Australian economy and concentrating on the construction industry this has helped the Aussie gain. Furthermore, the Chinese are considering additional stimulus which if this occurs could accelerate Chinese growth and therefore increase demand for Australia’s natural resources and more funds being attracted to the Aussie Dollar.
If you have a currency requirement coming up soon and want to save money compared to using your bank then contact me directly for a free quote Tom Holian [email protected]