Sterling hasn’t exactly come bounding out of the starting gate this week, so far, and indeed has slipped in early trading against the US dollar today, while looking nervous against the euro.
Elsewhere in the world, a whole lot of poor economic news from China overnight (including retail sales rising at less than half the level expected) has sunk currencies like the Australian dollar, which are closely tied to China’s economic success.
It’s a busy week for data from the UK, with most of the big economic indicators – unemployment tomorrow, inflation on Wednesday, and consumer confidence and retail sales on Friday.
There could be some shockers there, with inflation potentially in double figures for the first time since the early days of Margaret Thatcher’s prime ministership.
All of these data releases arrive early in the morning, so by the time you hear about them and are ready to act, sterling will already have moved ahead of you.
That’s where a product such as an Order to Buy can help you.
However, the best plan as always is to give your trader a call today on 020 8108 5163.
With sterling remaining strong for another week in defiance of most predictions, now could be the time to discuss locking in your exchange rate in advance with a forward contract.
