Positive UK GDP provides a nice uplift

By Grace Smyth

This week we have seen sterling make small improvements against the euro, while it struggled to compete with the Dollar.

Despite the UK posting negative figures for industrial and manufacturing production this morning, GDP was better than expected, showing the UK economy grew 0.3% in January, beating market expectations of 0.1% growth. The news has given Sterling a nice uplift providing a good opportunity for those with sterling in hand and looking to exchange.

This afternoon from lunch time the focus turns to our friends across the pond as the US post Average Earnings, Unemployment and Non-farm payrolls which is expected to read at 205K. If we see a reading below this level then it’s likely the Dollar could dip however anything above the 205k figure might prompt a small USD rally. Worth keeping an eye on if you have a Dollar requirement on the cards.

Canada is also due to post average hourly wages and Unemployment Rates at 13:30. So those with a Looney requirement should pay close attention here.

With these small uplifts in exchange rates seemingly few and far between, do get in touch with us to let us know your needs, even if they feel a way off, its worth getting in touch early so our team and keep you updated on exchange rates to help you maximise your return for your upcoming transfers.