Pound better on monetary easing & trade balance
28 July, 2011
Two important figures out in the UK today have given the Pound a welcome boost. This morning, the trade balance figure showed a defecit of £2.2bn, better than analysts’ expectations of £2.75bn. Then, at lunch time, the Bank of England announced they are not using all the funds made available for quantitative easing, putting off the decision to inject a further £25bn into the economy until August.
Sending money abroad has got cheaper during the course of today as a result, with most exchange rate posting gains of around 1%.
Clients wishing to take advantage of a spike in the market should consider booking a forward contract, which secures a fixed exchange rate for the future.
- 2020 (59)
- 2019 (190)
- 2018 (229)
- 2017 (253)
- 2016 (254)
- 2015 (253)
- 2014 (252)
- 2013 (287)
- 2012 (270)
- 2011 (576)
- Brexit deal to be done, or going, going, gone? 25 November, 2020
- Sterling starts the week down from the highs of last week 16 November, 2020
- Votes are in – albeit still being counted, will Donald trump Joe? 4 November, 2020
- No categories