More good news for GBP

The Pound has continued up this morning – breaking the 1.18 level against the Euro and 1.70 level against the US Dollar [mid-market rates] after more good economic news from the UK.

Manufacturing production was up 0.4% in June, while PMI services data was positive in the UK and negative in Germany. Retail sales also fell unexpectedly in the EU in June.

So the combination of good news in the UK and bad news elsewhere has pushed commercial exchange rates up today – however the interest rate decisions on the UK and Europe tomorrow could shake things up, so do consider looking at rates today if you’d like to take advantage of the recent movements when sending money overseas.