Sterling starts the week essentially unchanged over the last six weeks against the euro, despite some excitement last week when it briefly reached its highest point since early April.
Quite a few clients who were in touch with their traders were able to take advantage of the rate boost last week, so it really is worth looking out for our rate alerts
Against the US dollar the picture is very different, with sterling having fallen by around 2% last week – although it should be noted, still nearly 15% stronger than this time last year.
It’s all about the economic data at the moment, and what direction such information as inflation and economic growth will pull the Bank of England in setting interest rates.
This month’s announcement happens on Thursday at midday, and while no change in interest rates is expected this month, the currency markets will be looking for hints for later in the summer.
In the meantime, 18-year-olds are now being vaccinated in the UK – what an achievement to have come so far! – and much of life has returned to normal, with pubs and high streets buzzing, and Wimbledon starting next Monday to capacity crowds.
International travel is allowed, certainly for property buyers who are willing to take tests and accept a brief quarantine period on their return, and even that might have gone by the time you return.
Just as travel and the world brightens up, however, the future for sterling is looking murkier. Do call your trader on 020 8108 5163 to discuss locking in today’s rate.
