Inflation report & unemployment data could damage the pound
Today could be an extremely important day for anyone with sterling requirements. Should you be selling or buying the pound, today we have the quarterly inflation report by the bank of England
Markets await interest rate decisions!!!
Today we see both the Bank of England & the European Central Bank make announcements setting the interest rates for the month of August.
New Zealand raises interest rates.
Last night the central bank of New Zealand raised their interest rates by 0.25% to 3%
GBP exchange rate rises against the USD
The pound has seen some excellent gains against the US Dollar reaching a high of 1.5626. This is the highest level for 3 months.
The pound strengthens against most major currencies!!!
Now that the dust has settled after the excellent UK GDP figures, the pound has seen significant gains of over 1% against host of major currencies. Below shows the positive movements for the pound as of 13:50 BST.
Pound Sterling Forecast and update for the week so far – interesting news on...
Sterling has had a reasonably positive start to the week as predicted in my previous post gaining ground against a variety of major currencies, however losing against the Canadian Dollar.
The losses against the CAD were surprising, as during the week they did raise interest rates over there by 0.25% (however this was widely expected therefore didn't lead to much strength) but at the same time they also revised their expected GDP (economic growth forecast) down for the rest of the year.
In Australia, the wheels...
