Sterling saw an initial dip, and remains volatile, after the Bank of England’s decision to stretch out its £150bn purchase programme until the end of the year.
The BoE also increased its growth forecast which would see the UK economy expand at the fastest rate in over 70 years. Governor Andrew Bailey acknowledged the positive outlook for the economy but reiterated the need for context.
The results of the UK local elections are slowly coming in, however, markets are focusing their attention on the results of the Scottish elections this weekend.
Make sure any upcoming transactions are protected against the risks of sudden market movements. Secure a fixed exchange rate now with a forward contract; call your Personal Trader on 020 7898 0541 to get started.
Have you read our brand-new Quarterly Forecast for April to June? Find out what the major banks are predicting for currencies over the next 3, 6 and 12 months. Download your free copy here.
