This morning will see the release of UK inflation data at 9.30am. This news release has the potential to move markets as those following the Pound will be keen to see what the figure comes out at after last month showing a figure of 2.6%.
The highest figure released this year is 2.9% which was in May and today’s expectation is for a figure of 2.8% so the movement of the Pound is this morning is likely to be determined by this mornings reading.
The reason UK inflation is currently under the spotlight is because the Pound has lost so much value since the Brexit vote which has pushed up the cost of living in the UK, which is increasing as wage growth isn’t climbing in line with inflation.
If the figure released this morning is higher than the 2.8% expectation I think we can expect to see the Pound climb as markets will then be more hopeful of an interest rate hike in the short to medium term future.
Aside from Inflation data this morning there will also be an update on the UK housing market which is another area of the UK economy which is coming under the spotlight.
If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Joseph Wright) on [email protected] and I will endeavour to get back to you as soon as I can.