Sterling has seen a slight boost today against most majors following slightly higher than expected inflation figures.
The reason this has given the Pound a slight boost is that higher inflation is generally combated by a hike in interest rates and a hike in interest rates is usually seen as positive for a currency, as it makes it more attractive to investors.
The Pound saw a short term boost on Thursday of last week due to comments from the Bank of England that they may consider an interest rate hike sooner than originally anticipated. This created a spike in the value of the Pound but only for a matter of hours before rate quickly retracted again, this was a stark reminder of how important it is to to have a proactive currency broker so that should you have a transaction you need to make, as our traders here can call you when such an opportunity arises.
Tomorrow Boris Johnson is due to deliver a Brexit speech with the aim to bring the country together as the talks continue with the EU, so be wary that investors and speculators will be hanging off of his every word for any hints on progress.
Final piece of scheduled U.K data will be on Friday, where we have the release of Retail Sales, which will show how the retail sector performed in January.
Be wary as always that in this current market with all the political uncertainty going on around the globe and Brexit comments/announcements on a daily basis that surprises can also pop up with no prior warning.
If you have a large currency exchange to make then make sure we are aware of your plans so that we can contact you if there is either a spike in your favour or an adverse movement against you, as the slightest change in exchange rates can make a big difference to the cost of your currency transfer. You can set rate alerts, official buy orders and use various other tools we have to help maximise your rate of exchange.
If your current broker is leaving you to try and sail through these choppy market conditions alone then feel free to get in touch with me personally and not only will I get you a better rate, but a much higher level of customer service too.
If you need to carry out a currency exchange involving the Pound and you want to achieve the best rate of exchange, along with help on timing your transfer. You are welcome to contact me (Daniel Wright) the creator of this site on [email protected] and i will be more than happy to speak with you personally to help with your situation.