Rates spike on UK inflation data

28 July, 2011


The Pound improved significantly against the Euro and Dollar this morning after UK inflation data showed static prices, instead of the anticipated deflation which would have been seen as very negative for the UK economy.

Commercial exchange rates are therefore considerably better than yesterday, although they are already dropping down from a peak at about 9.45am.

Sending payments to Eurozone countries in particular is over 1% cheaper than yesterday evening.