Retail Sales Due This Morning – GBP Exchange Rates
This morning at 9:30am we have the announcement of UK retail sales, this could be quite a key announcement as it will cover sales for the Christmas period and so is the most important retail announcement of the year. It is difficult to predict how these figures will come out, partly because the data from some of the major retailers has been so mixed, analyst’s predictions have been split and so this is often a sign that the data release will cause some market movement. So, if you need to make a currency transfer it will be worth speaking to one of our experienced currency brokers before this data release in order to discuss the impact it may have on your currency transfer, then you can make a more informed decision as and when to have the funds converted.
In other news this morning Labour leader Ed Miliband has stated he believes the major UK banks should be reduced in size by selling off a number of their branches in an effort to make the industry more competitive. Some of the major banks have already had to sell off a number of their branches including Lloyds who sold numerous branches to the Co-op. This comment comes the day after Chancellor George Osborne announced that he believes that the minimum wage should rise to £7 an hour. It is clear that the two major parties are trying to out do each other as they continue to compete for future votes. The political situation in the UK will continue to grow in importance for the exchange rates as we get closer to the next general election in 2015.
If you need to transfer funds internationally and would like to discuss the currency market outlook and the options available to you please call us for free on 0800 328 5884 or if calling from abroad on 0044 1494 725353 alternatively you can email me directly on firstname.lastname@example.org