The Pound has found some support this week, making some in-roads against the Euro and curbing any further losses against the US Dollar. However, what will tomorrow’s UK interest rate decision mean for Sterling?
Latest Currency News
The Pound has hit its lowest level versus the US Dollar in five months after a poor run of data recently in the UK.
The Pound is set for a rollercoaster week on the back of political developments which are about to reach a climax.
The Pound has been coming under some pressure recently following some poor economic data and a new headache for the Government.
ECB President Mario Draghi is due to give a speech following the ECB’s interest rate decision, which could mean a limited move higher for the GBP/EUR rate.
Today we have the European Central Bank’s latest interest rate decision and monetary policy statement. We’re not expecting a change however Mario Draghi’s press conference shortly after could affect EUR exchange rates.
Sterling’s recent run seems to have slowed over recent days, with the Pound struggling to make much of an impact against the Euro or US Dollar this week.
Sterling exchange rates have opened the week relatively flat, with the major economic headlines surrounding the upcoming MP’s debate on the issue this week.
The Pound has recently hit the best exchange rate to buy Euros in eleven months but has subsequently come under pressure since the middle of this week.
The currency market is bracing itself for the Bank of England (BoE) to raise interest rates this May, but will there be further rate hikes in 2018?
Following the release of UK inflation data the Loonie has made gains against Sterling, as an interest rate hike from the Bank of England looks less likely.