Yesterday Sterling took a bit of a hit against most major currencies following the release of the Bank Of England minutes yesterday morning. Following the release it was confirmed that 3 of the members of the MPC actually wanted to pump evebn more money into the economy, a release that was taken badly by the markets.
Markets move on rumour as well as fact and the fact that Mervyn King was one of the people in favour of more quantitative easing could suggest there is more to come and every time more money is pumped into the economy it is generally seen as negative for the currency concerned.
Today has seen the release of retail sales data for the U.K which actually once again came out better than expected however at the time of writing this post there are red screens in the office and Sterling has lost ground against most major currencies including 0.27% against the Euro and 0.30% against the Dollar.
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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