• About Us
  • Authors
  • Currency Charts
  • Live Exchange Rates
  • Contact Us

Exchange Rate Forecast

Exchange rate forecasts and foreign currency news

  • British Sterling
  • Euro
  • US Dollar
  • Australian Dollar
  • Canadian Dollar
  • Brexit News
You are here: Home / British Sterling / Very positive fortnight for UK economic data

Very positive fortnight for UK economic data

September 21, 2017 by Thomas Holian

Very positive fortnight for UK economic data

It all started last week when the Tories all agreed to pass the EU Repeal Bill followed by positive Inflation data which hit its highest level in over 5 years. This then led to the Bank of England suggesting that an interest rate hike may be coming sooner than the markets currently expect. Prior to this the expectation was for the next rate hike to come in 2019 so last week’s 7-2 split caused a shift in the market expectation.

Bank of England Governor Mark Carney came out earlier this week to state that any interest rate hike, when it comes will be ‘limited and gradual’ which caused the Pound to stall, but we are now close to the 2 month high to buy Euros with Pounds.

Tomorrow, UK Prime Minister Theresa May is due to take centre stage to deliver her vision of a post-Brexit Britain. The speech which is due to be held in Florence could cause a huge amount of volatility so it is important to keep a close eye on the markets to see how they may react.

Personally, I think the tone will try and be as positive as possible whilst also trying to maintain a strong negotiating position but the next issue will be how will the other 27 EU member react?

Also, over the weekend the Germans hold their latest general election with current Chancellor Angela Merkel due to win a fourth successive term as leader of Europe’s strongest nation. If as expected she wins again this would typically result in Euro strength versus the Pound as it maintains the status-quo.

Filed Under: British Sterling Tagged With: Brexit, GBPEUR, interest rates, Pound strength, Theresa May, UK interest rate, UK retail sales

The information on this website is provided for information purposes only. It does not constitute advice to any person on any matter. Every reasonable effort is made to ensure that the information is accurate and complete but we assume no responsibility for and offer no warranty with regard to the same.

Recent Posts

  • Sterling finds support but unlikely to make any significant impact in the coming days May 9, 2018
  • US Dollar hits 5 month high against Sterling May 2, 2018
  • Sterling exchange rates at the mercy of political developments May 1, 2018
  • Pound weakens as political uncertainty once again raises its head May 1, 2018
  • Will Mario Draghi’s speech impact GBP/EUR? April 26, 2018

Live Exchange Rates

Archives




Copyright © 2021 — Currency.co.uk • All rights reserved. • Exchange Rate Forecasts • Privacy Policy •

We use cookies to ensure that we give you the best experience on our website. By using this site you agree to receiving cookies.I agreeRead Privacy Policy