Pound Up – no news is good news

28 July, 2011


The Pound has continues its upward movement against major currencies – producing the best exchange rates for Euros and Dollars for some weeks. If you need to send money to a notaire in France, a builder in Bulgaria or an escrow account in the States, you should speak to your currency company straight away.

There is no particular reason for the movement – except perhaps a break from the negative news which has been dogging the UK economy in recent months. There has been no significant negative data for a week, allowing the Pound to gain some value in the markets.

Tomorrow’s European inflation data and US jobless numbers will perhaps give us the next indication as to which way rates will move in the short term.