Sterling has continued its long awaitied recovery against a basket of major currencies today, with a flurry of data released being better than expected.
The Consumer Price Index and Retail Price Index came out a lot better than expected which offers another possible set of 'green shoots' for the U.K economy.
Investors can only gain more confidence in the Pound following this data, hence the fact we have seen early morning gains against the U.S Dollar, Australian Dollar, the Euro and most major currencies.
Many of my clients will be pleased to see this, especially those with ongoing building projects abroad or pension/regular payments to make overseas as the past few months must have been nothing short of a nightmare when edging close to parity against the Euro and hitting the mid 1.30s against the USD whilst slipping below the 2 mark against the AUD for the first time in years.
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1 comment:
I agreed that it's a good news for those upcoming transfers. But one thing is confusing me, what about now? What's the latest news about this thing? Hope to see more on your post here.
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