Against the euro, sterling has been hovering close to the highs of last week, around an 18-month high, without quite surmounting this resistance level. Perhaps not hovering so much as lurching upwards and downwards in a manner all too familiar if you’ve ever taught a teenager to drive.
It will require a fresh burst of energy for sterling to go higher, but that could just as easily kill off the near 5% rise since this time last year. So, to lock that rate in for the year ahead, do call your account manager on 020 7898 0541.
This morning we have had good news for (some) homeowners in the UK, with a 1.3% rise overall in house prices in the past month, according to the Halifax; the fourth such rise in a month and taking annual growth to 2.5%. Less good if you live in the southeast, however, where the average property price fell by £8,866 (2.3%). For anyone living abroad and thinking of buying in the UK at what appears to be the low point, why not download our guide, Returning to the UK, which has all sorts of handy suggestions.
However, what of sterling? Changes to your exchange rate could come from several directions. Various members of the Bank of England’s Monetary Policy Committee (MPC) will be speaking over the next few days, including both uber-hawk Catherine Mann and uber-dove Swati Dinghra.
Then next week we have some higher-level data releases coming into view. The first is unemployment and earnings on Tuesday, then inflation on Wednesday and GDP on Thursday.
It seems unlikely, given all that, that sterling will be where it is today by the end of next week. Therefore, to avoid taking a huge gamble on your wealth, do give your account manager a call. It’s what they’re there for, at the end of the phone on 020 7898 0541.
