After reaching 18-month highs against the euro last week, the pound starts the new week slightly on the back foot against both the euro and the dollar. Despite this, sterling remains well supported above 1.17 against the euro.
The pound’s retreat is largely down to dollar strength and a cautious market mood after US inflation data surprised investors.
Nonetheless, you’ll still get 6% more euros for your pounds today than you would have done this time last year. So, if you’d like, you can lock in today’s rate meaning you don’t have to worry about any potential fluctuations. Just give your trader a call on 020 8108 5163.
There are a number of interesting data releases to keep an eye out for this week which may give sterling new direction.
For the UK, unemployment figures will be released on Tuesday and CPI and retail sales on Wednesday. The US will also see retail sales figures on Tuesday. Minutes from the Federal Reserve’s latest meeting will be released on Wednesday evening, which could give an indication of when tapering may begin.
In travel news, the Chief Executive of Gatwick Airport has urged the government to rethink the current rules and testing requirements as the UK lags behind Europe and the US with foreign travel. There’s every hope that the government may relax some of these rules in the next travel review, which would make travelling abroad to view properties a whole lot easier!
In the meantime, I highly recommend reading The Viewing Trip Guide, written by property experts over at Property Guides. It’s filled with useful tips on how to get the most out of a viewing trip, including 10 key questions to ask your estate agent.
Have a great week,
