Although this may have pretty much been priced into the market as the currency markets do move on rumour as well as fact, should the release come out as bad as expected one would expect Sterling weakness to start off the day.
Also released today is the Bank Of England quarterly inflation report which comes out at 10:30am. Expected is a rather dim outlook from the BOE on the future of the U.K economy and for inflation to be below the 2% target level, alongside a potential downgrading of growth forecasts for the U.K economy.
Should all of this data come out as expected, personally I believe Sterling may lose ground against a basket of major currencies today so should you have an upcoming transfer it may be prudent to get in touch with me to discuss your requirements and the many options available to you.
We also see the Federal reserve interest rate decision out tonight at 19:15pm, no change is expected however all eyes will be on potential comments regarding the U.S economy following the decision.
This is a brief summary of todays report. Click here to read the full report on our main website
If you are buying a property abroad, and want the best exchange rates, just click on the links below to go straight to our main site, or Email Me
Have a great day and thanks for reading!
Daniel Wright
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