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Inflations easter treat
17 April 2014

What did yesterday’s trading bring us on the currency markets, well it brought us some resumed confidence with UK employment was up and a key sign of a healthy recovery for the economy. The Bank of England who has backtracked away from the target of 7% having being reached the focus has been shifted and quietened on Thread-needle Street. Sterling still positive even though the markets did not really react, adding the positive of average earnings figure, which came out at 1.7% missing the expected of a 0.1% still in line with the recent inflation figures, which are at the best rate for six years.

The cost of living is now in line with wages and inflation showed that people are now a little better of in the pockets. Great news for sterling as it made gains across many of the major currencies. Against the Euro a cent was gained and almost a whole dollar was gained for the GBP.

Over in Canada, the RBC held rates amidst inflation concerns, which led to some weakening of the Loonie. Adding this to the Pound’s early gains, which saw 1.5% on the GBP/CAD

As we close this short trading week ready for the Easter bank holiday weekend, we may see Sterling gains disappear over the days, as some markets stay open.

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