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A positive day for the pound! (Dayle Littlejohn)
Its been a positive day for the pound as Consumer Price Index figures (inflation) came in 0.1% better than expected. This was a surprise for many investors as recent average earnings was down by 0.4%, which indicated British people might have held onto their pounds instead of spending and inflation therefore would stay at 0% or even -0.1%. This wasn’t the case!
What does this mean for sterling exchange rates?
Mark Carney, Governor of the Bank of England has indicated over the last 2 months, in order to hike interest rates within the UK, inflation had to improve. After today’s inflation figure it wouldn’t surprise me if Carney and members of the Bank of England are bullish about the pound in the upcoming weeks and sterling continues to strengthen and make gains against foreign currencies.
If you have a currency requirement to make in the upcoming days, weeks or months and you want further advice on a specific currency pair, for example GBP/EUR, GBP/USD, GBP/AUD, feel free to email me directly with your requirement and I can give you my forecast and a free quote. Dayle Littlejohn [email protected]
Source: http://www.poundsterlingforecast.com/2015/08/18/a-positive-day-for-the-pound-dayle-littlejohn/
