Currency Rates

US$/GBP – 1.484

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

Sterling hit a 1 month high against the euro yesterday morning as UK retail sales data for February jumped 2.1% on the month, considerably more than the 0.7% that was forecast. As a result, the pound jumped to 1.1263/ £1 but fell off later in the day as a large downward revision to January’s retail data came through, and sterling continued to suffer as concerns over the election remained and Wednesday’s Budget failed to deliver a coherent plan to pay down the £167bn deficit. The downward revision spelt caution for many as it shows that the UK recovery is still fragile. A new opinion poll out yesterday showed that the Conservatives lacked the required support in key marginal seats. With most opinion polls pointing to a hung parliament, the pound is likely to remain under considerable pressure in the next few weeks. To end the week, it is a fairly quiet day today with revised data for Quarterly business investment. This is expected to show a marginal improvement. Get in touch now for a price.

In the USA, there is a lot of data out today including Quarter on Quarter GDP which is expected to be revised upwards to 6% growth. In addition there is price inflation data which is expected to show a marginal improvement. The US dollar is very volatile against sterling and this is likely to continue in the run up to the election. Call in now for a price, as there are a variety of options available to ensure the markets do not move against you. Have a fantastic weekend!

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