Sterling Exchange Rates

The Pound has continued to perform well over the course of trading today still following on from last week’s comments by the President of the European Central Bank Mario Draghi. Mr Draghi mentioned that the Central Bank would be prepared to act in June should inflation continue to fall and with inflation figures due out this week it could be a crucial week for Sterling exchange rates. Currently Sterling Euro exchange rates are pushing up towards the 1.23 level which would be some of the highest levels we have seen for some time now and in fact at the time of writing we are at the highest levels we have seen this year meaning there are some excellent opportunities to buy Euros.

Later this week there are also some key economic data for the UK and therefore Sterling exchange rates with both unemployment figures and inflation data due out on Wednesday both of which will be key for the foreseable trend of Sterling. If both of these data sets are positive we could see GBP exchange rates strengthen even further and present even more good opportunities to buy currency.

So, if you would like to be kept updated on the latest currency news speak to one of the senior currency brokers at Foreign Currency Direct plc