A good little run for the Pound lately

Pound Sterling has hit 3-month highs against the US Dollar and 1-month highs against the Euro.

The UK economy is showing more positive signs, with better data from the Manufacturing and Services sectors.

But I would say most of the Pound’s gains have come from weakness elsewhere.

Higher interest rates are starting to bite in all corners of the globe.

The latest data is pointing to a soft landing for the US economy, which is driving further Dollar weakness.

As for Europe, the German economy isn’t looking too flash – and it tends to lead the way for the rest of the Euro gang.

If you think UK interest rates are high, things could always be worse.

In Turkey, the central bank just raised their interest rates from 35% to 40%!

It’s what happens when inflation runs out of control – Turkey’s inflation rate is 10 times higher than the UK’s.

As for the poor Turkish Lira – it’s been decimated. Your Pounds fetch a king’s ransom (in Lira).

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We are happy to discuss rates, market trends and timing.

You can speak to a member of our team by calling 01872 487 500.

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