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Moneycorp Currency advice on a near 2 Dollar Pound
News Sponsored by The Coral Lake & Beach Resort |
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Sterling performed well against an ailing US Dollar last week but did not do so well elsewhere. There was good news from the British Retail Consortium, which reported further sales growth in March, and from a modest improvement in the RICS house price balance but there was no help whatsoever from a widening of Britain's trade deficit on Thursday. There was really nothing to inspire investors to buy Sterling until the weekend announcement of Rightmove's house price index. The index was up 3.6 per cent for the month of April and 15 per cent higher on the year. Given Bank of England Governor Mervyn King's preference for moderation in house prices it was seen as a big tick in the box for higher UK interest rates.
For more information and expert guidance on the currency markets request a
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