While sterling has had a slightly negative start to the week against the euro, it retains most of its gains from last week and is still 1% up on where it started the year.
As mentioned on Monday, we are entering shark-infested waters for anyone committed to a large currency transaction. There are three of the month’s four big data releases over the next week, covering the health of the economy versus the battle against inflation.
Your exchange rate could well be a casualty of all that, as the markets decide if the UK remains the best place to get a return on their money. There is no interest rate decision until 1st February, but everyone is looking at essentially the same sets of data and speculators gonna speculate.
So to be sure of holding onto recent gains in GBP/EUR and GBP/USD the only way is to lock the rate in with an effective currency plan. You can do that with a call to your account manager on 020 7898 0541.
