Blog


GBP Continues To Perform Well

Sterling traded at its highest in a week today after some more upbeat British housing data helped soothe nerves over economic growth and the government eased past parliamentary roadblocks to its plan to trigger talks on leaving the EU next month.

The pound has been rocked by a handful of weaker signals on the economy over the past week, hinting that consumers are finally beginning to feel the pain generated by an almost 20 percent fall in the currency that should push domestic prices higher.

Sterling won’t come under much pressure until we see clearer signs of the effect of falling real wages on consumer spending.

This morning’s RICS house price data was above expectations, and the next significant data come from tomorrow’s trade and manufacturing production.

The UK economy surprised investors last year when it outpaced its peers among the world’s big rich nations, driven by the spending of households who shrugged off the vote to leave the European Union.

But the results of a regular Bank of England survey on Wednesday showed British employers plan to offer the least generous pay deals since 2012 this year.

A number of major banks are still calling for the pound to fall by up to another 10 percent in the months ahead as the Brexit process develops, but it has resisted any push below $1.20 since the start of November.

Leave a Reply

Your email address will not be published.

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd Payment and Foreign Currency Exchange Services are provided by Currency Cloud Limited and Equals Connect Limited. Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. FCA registration number: 900199. Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508). Payment services for Currencies 4 You Ltd are provided by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales. Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB). Licence No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution. Firm Reference Number: 927951. | Terms and Conditions | Privacy Statement | Careers