Poor retail sales did little to push the pound downwards, with continued optimism over the upcoming general election helping to keep it above the euro, despite positive news from the eurozone. German GDP figures showed unexpected growth, meaning the country has avoided recession, and EU-wide GDP figures also showed growth steady month-on-month.
Today will be a busy day for the dollar, too, with retail sales, industrial data and manufacturing figures. The US and China are due to hold a teleconference today to discuss the possibility of a ‘phase one’ deal.
Take advantage of the pound’s strength and lock in today’s exchange rate for up to twelve months with a forward contract. Call your Personal Trader on 020 7898 0541 to get started.
