Sterling starts the week on the front foot this morning, reaching its strongest level for 10 days against the euro and maintaining its position well above the average for the past year.
However, the more eagle-eyed readers might have noticed that sterling has received a boost on most of the past few Monday mornings and it rarely lasts beyond Tuesday lunchtime.
Against the US dollar, sterling continues to strengthen too.
The next few mornings have a steady supply of economic and industrial data to chew on over breakfast, with employment and earnings tomorrow, inflation on Wednesday, CBI Business Optimism (or otherwise, presumably) on Thursday and Gfk Consumer Confidence on Friday.
This morning we heard that house prices in the UK have reached their highest level ever, which has to be good news if you are looking to sell to finance a new lifestyle abroad.
With house prices as with much else, however, I’m sure that those with valuable assets which they’re hoping will finance an exciting lifestyle would prefer some security over those values. Properties that are temporarily shooting up in value due to the stamp duty holiday are of little use in the long term.
The benefit of currency is that you can lock in the rate and plan accordingly. A forward contract sets today’s rate, on payment of a small deposit, and this morning looks like a good time to talk to your trader about doing just that, on 020 8108 5163.
