The pound starts the week where it began last week against the euro but a little stronger against the US dollar.
That hardly tells the whole story though, when GBP/USD slipped to four-month lows midweek and GBP/EUR wasn’t far behind, before recovering.
The financial world continues to be turbulent and this week will be an interesting one for sterling. On the GBP side of the equation there is more high-level economic data tomorrow with unemployment and earnings, then the Budget on Wednesday. On the EUR side there is an interest rate decision on Thursday.
Lately, economic data has been better than expected. Not just in the UK, where everything from new car sales to house prices to retail sales improved last week, but also in the USA, where non-farm payrolls (one of the best indicators of the US economy) was far better than expected.
The only problem could be that after so much good news, bad news may have an outsized impact, as shown last Tuesday. The only way to avoid that sort of slip coming at the worst possible time in your transfer process, is to lock your rate in as soon as you are committed.
You can do that, of course, with a call to your account manager on 020 8108 5163.
