Pound steadies as attention turns to Bank of England
28 July, 2011
The sell-off of sterling seems to have abated – but for how long? Tomorrow the Bank of England announce whether there will be any extension to quantitative easing.
If more money is injected into the economy, the Pound is likely to fall further as this would be seen as a negative sign regarding the UK’s economic recovery.
For now, exchange rates are relatively stable so if you need to make overseas money transfers do consider your options prior to the Bank’s announcement tomorrow lunch time.
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