Tommorow brings revised U.K GDP data at 09:30am which may cause huge movements for the Pound, expected is a revision up to 0.2% however with the recent poor data releases continuing to confirm the U.K is clearly not out of trouble yet I would be concerned that we may see the figure come out worse than expected and that the Pound may lose off the back of this.
Should this be the case then it will open the door for further Quantitative easing being announced in next Thursday's interest rate decision which as regular readers and market followers will know, generally leads to weakness for Sterling.
This is a brief summary of todays report for further information on the currency markets or if you have an upcoming transfer to make and want to discuss the options available to you call Daniel Wright on 01494 787462 or email me djw@currencies.co.uk
I assist thousands of clients to send money overseas or receive money from overseas involving the following currencies - Please note I do not deal with cash it is bank to bank only!! AED AUD BHD CAD CHF CZK DKK EUR GBP HKD HUF INR ILS JPY KES KWD MAD MUR MXN NOK NZD OMR PLN SAR SEK SGD THB TRY USD ZAR
Have a great day and thanks for reading!
Daniel Wright
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