Monday Blues for the Pound

28 July, 2011


As often seems to be the case following a positive end to a week, sterling dropped away this morning after last week’s gains following the Bank of England’s announcement on Thursday.

Much of the improvements in rate last week were wiped out during the course of today, against both the Euro and US Dollar.

This week is all about inflation. We have key figures out in the UK, Europe and the USA, on Tuesday, Wednesday and Thursday. Which economy is performing best at the moment will probably indicate which currency will perform better too.

Elsewhere, look out for the RBA Minutes if you are buying Australian Dollars, and the Swiss interest rate decision if you need to send money to Switzerland. For the latest news contact Currency Index directly.