Sterling hits a 9 month high

Sterling has continued to gain against the euro, however, this could be affected next week when we have the UK wage data and employment figures released.

We believe that wage growth including bonuses may slow slightly whereas the unemployment is expected to be up – both could have a negative impact on the pound. On top of that if the Inflation reading comes in any higher than the 2.7% we could see this devalue the pound further.

All these factors combined would mean that the UK’s progress towards eliminating the wage squeeze would be reversed and the Pound could tumble against the Euro.

This could harm the chances of a rate rise in May.

Also, next week we have the Retail Sales data which I expect to be lower as last month we had very bad weather so not many people were out buying goods.

All the above points to a disappointing week ahead for the pound. If you are in need of Euros or Dollars any time soon, call or email us for more in-depth analysis. Buying your currency at the right time matters.

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