Sterling hits midweek maintaining strength against the euro but weakening by 0.5-1% against the US dollar compared to this time last week.
The economic data has been coming thick and fast over the past few days. For the UK it has included the first monthly decline in property values since the start of the stamp duty holiday, but positive manufacturing PMI (a measure of business confidence).
The big question of the week will be the Bank of England monetary policy committee (MPC) vote tomorrow, and they will be looking at all the economic data. Current betting seems to be that the MPC can afford to be a little less “dovish” on economic stimulus as the indications are that the economy could bounce back quickly without their help.
This would be broadly supportive of the pound. But that certainly cannot be guaranteed, so do call your trader on 020 8108 5337 if you would like to lock in today’s excellent rate.
Speaking of our traders, I know that over the years they develop quite a friendship with their clients. That’s especially true over the pandemic year when people doing business, buying or moving abroad have had to chop and change their plans. Long-cherished dreams have been put on hold, and now Brexit has happened and people need to work their way through new rules before what we think could be a busy summer.
That’s why our system of assigning a dedicated, named trader – who is not paid on commission, but on service – at the end of the phone, has worked so well over the past year.
If you have a friend, family member or colleague who will be making a currency trade, please feel free to refer to that individual trader. We will do all we can to ensure that your contact is assigned your trader.
You can make a referral here via this form.
We do offer a financial thank you, of course, but I appreciate that the biggest benefit is ensuring that a friend gets the best guidance in what can be a fraught process at, for example, a high street bank call centre that doesn’t offer that personal service.
