Currency Rates

US$/GBP – 1.518

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Sterling enjoyed a strong run up to Easter and has opened the post Easter period strongly moving up through 1.13/£$1 for the first time in a while. Positive economic data has been one of the factors helping sterling to strengthen and we wait to see if this weeks data releases maintains the momentum. Firstly we have the purchasing managers indices for services for March released and the expectation is for it to be similar to the February level. Then we have UK industrial production data for February and the expectation is for continued improvement. And finally it looks as if all the talk is over and the general election is on its way in early May. The Conservatives seem to be ahead in the poll which is helpful as the last thing sterling needs is a hung parliament. So volatility is going to stay high so give us a ring to make sure you don’t miss out.

The US lost ground against sterling even though Fridays release of payroll data showed that 162,000 jobs were created in March which was way ahead of expectations. So the US economy seems to be on the up. We have an announcement and a speech from the Federal Reserve this week and it will be interesting to see their view on the economy. We also have a couple of government bond issues. The previous ones were met with poor uptakes and so it will be interesting to see how this weeks perform. Certainly there is a feeling that interest rates are on the increase as this will need to happen if investors are to fund the US’s debt requirements. So again an interesting week ahead and as ever it makes sense to talk to us sooner rather than later.

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