Sep09
Another ominous day for the Pound
More poor figures for the Pound have lead to Sterling loss across the board today, with the Loonie in particular nearly a cent up against GBP today.
The UK has continued it’s recent poor run of form with it’s data sets as both the Goods trade balance and Total Trade Balance figures have been released worse than expected. In comparison Initial Jobless Claims for the US and Merchandise Trade figures for Canada both were released better than expected.
This has translated into Sterling losing ground against both currencies although some of the losses were cut short by some slightly negative data from both Canada and US although the Canadian Outlook has been more promising overall than the American outlook today.
Looking forward be cautious of UK PPI figures tomorrow, given the current run of recent UK data it wouldn’t be surprising for worse than expected data to cause more across the board losses for the Pound.
If you are looking at selling pounds and want to discuss your options for sending currency overseas get in touch with me on freephone 0800 328 5884 or contact me via email on jfm@currencies.co.uk.
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