This appears to be down to a CBI (Confederation of British Industry) Distributive Trades Survey. The CBI is an indicator of short term trends within the U.K retail and wholesale distributive sector. A high reading is seen as positive and a low reading negative for the Pound, and although predicted ato come out as -15 the level actually came out at 3 - Much better than expected!!
This may only be a short term spike as mentioned in previous posts it appears that our Government, Central bank and media all seem set on pushing the Pound back down to lower levels, however there are many surprises on the markets these days so further positive news like this and one would imagine Sterling will be making a solo fightback.
This is a brief summary of todays report, should you wish to make a currency enquiry Email Me
I will ensure I get back to you as soon as possible to discuss the options available to you. Click here to read the full report on our main website
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Have a great day and thanks for reading!
Daniel Wright
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