Best GBP-USD exchange rates since September

Another flat day on the currency markets yesterday for GBP/EUR despite positive UK manufacturing figures for July, which rose to 55.1 from 54.3. Following the news, the rates made some small gains against the Euro and jumped to a 10-month high against the US dollar – giving the best GBP-USD exchange rates since September. EuroZone GDP data remain unchanged as expected, helping the Euro keep its strong stance. The afternoon brought a mixed bag for US eco stats with Personal Consumption, Markit Manufacturing and ISM Manufacturing PMI data posting positively. While Personal Income, ISM Manufacturing PMI and Construction Spending all came in under expectations., providing a slightly volatile day for GBP/USD but ultimately the currency pair closed at the same levels as where it had opened.

A relatively quiet day today in terms of eco stats. This morning at 09:30 UK PMI Construction data is expected to come in at 54.5 slightly below the previous 54.8. At 10:00 EuroZone Producer Price Index data is due then US ADP employment change due at lunchtime. With not much out today data wise, we could face another day where sentiment moves the rates ahead of all important Euro Retail sales and Bank of England’s interest rate decision, inflation report and monetary policy committee vote all in tomorrow and Friday’s US non farms payroll and unemployment data.

If you have a requirement due in the coming weeks or months then do get in touch with your broker here at CI for some friendly guidance to help you with your upcoming currency exchanges. To find the best GBP-USD exchange rates or any other currency pair, call us at Currency Index.