UK PMI gives Pound a boost

28 July, 2011


This morning’s Purchasing Managers Index data, a measure of business conditions in the UK manufacturing sector, has come out significantly higher than expected.

The Pound has received a welcome boost. Exchange rates against the Euro and US Dollar are up around 2c each, so property buyers sending Euros to Spain for example will be pleased with the news.

With the long weekend approaching, be aware that the markets still trade in many countries, so rates can move over the bank holiday. Call your currency broker to discuss your options.