Should we hate the rate

Last week saw volatility in the rates as a lot of important data was released across the board. The week started out poor for the pound as negative data came out in the UK that Interest rates would remain low for the foreseeable future and a unanimous vote by the BoE to hold asset purchase at current levels. To add to the weakening of the pound inflation came out high mid-week which saw the euro and dollar gain.

Relatively quiet on the data front for the Euro, US dollar and the GBP at the start of this week. Gross domestic product data is to be released on Thursday, early in the week could be a good time to transact any transfers to avoid getting caught out by a weaker reading. A lift in data from Wednesday as Inflation rates are released in Australia as well as Interest rates decision from New Zealand and lastly PMI from the Euro zone. On Thursday we see GDP data released in the UK as well as Durable Goods Orders from the US so volatility in the rate can be expected.

Should you have any upcoming currency requirements get in touch with your broker at Currency Index to start sending money abroad .