Sterling recovers yesterday’s losses

Having fallen back yesterday, sterling has recovered somewhat today, despite public borrowing figures this morning being much worse than expected at £9.77bn for October.

Retail sales figures were not so bad, and with the possibility of an Irish economic bailout looking more likely, the Euro is also struggling. Against the US Dollar, rates have also recovered, as volatility continues in fragile economic recoveries.

There is no major data out tomorrow, but we have speeches from the Federal Reserve chairman (Ben Bernake) and European Central Bank president (Trichet), at 2.15pm and 9.15am respectively.

Please contact Currency Index for the latest live rates for your own transaction.