US$/GBP - 1.546

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx

A series of weak UK data last week saw sterling fall to a 10 month low against the US dollar. Worse than expected unemployment data and the shock announcement of the first Public Sector deficit since 1993 saw the pound fall below the $1.55/ £1 level. With concerns over the UK’s public finances growing and a lack of fundamental data out at the start of this week, sterling is likely to trade on risk sentiment. The Bank of England Monetary Policy Committee members testify on the first quarter inflation report which could see some movement and in addition the second estimate of fourth quarter GDP for the UK is released on Friday. When this was released last time, the figures came in a lot worse than expected. There is a possibility that the figures will be amended to show an improved performance for the UK economy, however with a renewed negative outlook for the UK, this is unlikely to push sterling too much to the upside.

Get in touch today to discuss your currency requirements and avoid sterling’s poor performance affecting your currency purchase.

The USA surprised the markets last week by unexpectedly raising the ‘discount rate’ for the first time since 2006. Ben Bernanke was keen to impress that this was not a shift in policy towards an earlier than expected headline interest rate rise. The Fed Chairman speaks on Thursday and this is likely to elicit the most market reaction from an otherwise bare week on the economic calendar. With a lack of data being released, get in touch now to make sure you do not lose out from volatile movements due to risk sentiment.

Call 0808 163 0102 or +44 (0) 207 898 0541 from outside the UKor fill out our quote form: http://www.smartcurrencyexchange.com/quote.aspx