Euro rates post surprise improvement

The Pound enjoyed a positive 24 hours, most notably against the Euro, with rates for sending money to Spain, France and the rest of the Eurozone at their best for a couple of weeks this morning. The CBI (Confederation of British Industry) says that the UK economy is still showing strong growth for March, although at a slower pace than recent months. The CBI Survey showed growth above average with a positive outlook for the next 3 months, in its survey of 622 retail, manufacturing and service businesses. Tomorrow’s final revision of UK GDP for the fourth quarter of 2013, will be another useful indicator of how the economy is performing; the Pound is sensitive to these data releases as the economy creeps forward ahead of most others in the world.

A lack of European data yesterday also saw the Euro drift lower, after 2 weeks of solid gains against many other currencies.

Today we have UK retail sales at 9.30am and US GDP figures at 12.30pm as well as Japanese inflation figures at 11.30pm. Don’t forget that currency markets trade round the clock due to American and Asian trading, and rates can move significantly overnight. To make sure you don’t miss out on the rate you want, talk to us at Currency Index about your own transfer today.