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Currency Market News

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Swinging turn for the Pound
27 March 2014

A surprise change for the Pound spending the past 24 hours reaping the gains made earlier on in the day, mostly against the single currency. Rates for sending to many of the Eurozone countries are currently at their best for over four weeks. An interesting aspect to look at is sending money to Spain, which has seen a significant increase as the strongest out of the Eurozone. According to the CBI the UK economy is pulling back from recent trends and showing growth within March, though this has continued in the positive way we see a slower pace for the growth. As ever the pound remains volatile to these types of data releases, as expected hopefully forward of most of the major EU economies.

The lack of EU data in the past few days has seen the euro take a dip lower, after two weeks of strong gains against the major currencies.

UK retail sales start the day off at 9.30 GMT and following in suit we see US GDP released at 12.30pm. You can always stay up to date on all the latest news from our dedicated team of brokers at Currency Index.

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