Some small relief for the Pound

18 August, 2016

Grace Rae

Yesterday we saw the Pound see some small gains following UK Unemployment Rate data coming in as expected at 4.9%. A much needed boost as rates are at the lowest levels since the announcement of leaving the European Union. As our doors closed yesterday the FOMC minutes were released and revealed a separated opinion amongst Committee members in regards to a rate hike in the coming months, as some members are concerned that inflation won’t rise to the Fed’s 2% target.

Today we have a few main data releases. UK Retail sales data came in this morning and 1.4%. over a percent better than expectations and providing the pound a slight boost. We also have EUR Consumer Price Index at 10am followed by the ECB Monetary Policy Meeting at lunchtime.

All these data releases could cause some market movements, so as ever if you have an upcoming requirement, do get in touch with one of us on the Currency Index Team and we will be happy to assist with your pending transfers.

Why not make the most of our forward contracts too? In a downward trending market which we are currently experiencing, our forward contracts is a great tool to consider if you have a transfer due in the coming months! Protect yourself against any potential further losses and get in touch with your broker today.