The pound is looking positive against the euro this morning, if a little shaky against USD.
Against the euro, for three months now between January and today sterling has struggled to surpass the resistance level around €1.20-1.21. You have to wonder whether it ever will.
In the meantime the potential shocks for the economy are growing, so rather than data it might be bankers that move the market in this, the last week of the financial year.
To lock in your rate – still well above the five-year, two-year and one-year averages, do call your trader today on 020 8108 5163. It’s nice, just when many people are using springtime to make life-changing moves, not to be saying that sterling is well below average. The pound often falls between spring and summer.
Andrew Bailey, governor of the Bank of England will be talking today, and Christine Lagarde, president of the European Central Bank, on Wednesday.
What can they do to control inflation without causing a recession? It’s approaching the 25-year mark since the Bank of England was charged with the job, and while we can probably all be glad that politicians and electoral cycles are no longer part of the equation, rarely has their been more pressure on interest rate setters to get it right.
Our writing team is busily working on the next set of currency forecasts to start the quarter, but in the meantime why not download last quarter’s – pre-Ukraine invasion – and see which banks got it wrong and which got it right? Just click the picture of Christine Lagarde on this email to do that, or click here.
On Saturday I attended Your Overseas Home’s virtual show, and was impressed with the engagement and intelligent questions of the audiences of various seminars. So thank you if you attended those, and they have various webinars coming up if you missed out, so do get your free pass here.
