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Currency Market News

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No change for Team Carney
11 April 2014

Who would have predicted less than a week since the European Central Bank announced a unchanged base rate, we looked to Thread-needle Street for similar as expected. Rates continue to be held at 0.5%, whilst the stimulus continues to be held at £375 billion as the markets look ahead to next year before any changes expected from the Bank of England. The Pound did not see any eventful movements with rates consolidating at current levels after the gains earlier in the week.

Sterling found itself on a high platform with some of the best buying rates seen in the last five years against the USD and two cents up against the Euro that has set the pace throughout March. The usual highs against the US Dollar were pulled back after US unemployment came in better than expected. As we swim back ashore here in the UK, trading opens the markets with Eurozone data from Germany. The Consumer Price figures showing that inflation is currently down under expected levels by 0.2%. The market data dries up with PPI figures at 1.30pm GMT.

Off the scaling tallies of the currency markets, Fitch the ratings agency has passed some formal comments towards THE Scottish independence question saying it would look towards delaying the UK’s triple A status as UK debt would increase in the short term on a yes vote being passed.

As always the currency markets are ever moving and the volatile nature of some of the data could affect you sending money abroad. So why not speak to our specialist team of brokers today to send you your money overseas.

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