The Pound is holding onto the gains it’s made recently, after sentiment surrounding the UK economy and how it will perform in the future is beginning to improve.
Towards the end of last year there were times when Sterling was coming under pressure against the board of major currency pairs, as a hard Brexit and concerns surrounding the UK economy’s performance spooked the markets.
This has since changed as a number of leading EU members have suggested that they hope for a smooth transition into the Brexit and the UK economy has begun to show some positive signs.
With UK economic output, measured by GDP beating expectations when this morning’s figure was released, Sterling was given another boost after recently it emerged that UK wage growth is slowly increasing. This is key because inflation levels have increased over the past 18 months as the UK gets to grip with a weaker currency, and if wage growth doesn’t follow suit then the cost of living will increase and this will hinder the UK’s growth.
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