Pound down as momentum shifts

28 July, 2011


More losses for the Pound this morning – despite the lack of any major data, last week’s slight drop in exchange rates has been compounded, suggesting we have seen the top for sterling for the moment.

If you need to buy Euros at the best rates or send dollars to the USA, we would suggest considering all your options, as holding out for better rates does not seem to be paying off currently.

Tomorrow’s manufacturing and house price data will be of interest to the market, and any negative news is likely to bring rates down further.