• Moneycorp currency Transfers
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    1. #301
      May (names the) day

      There was confirmation on Monday that there is no situation in which sterling might find itself that cannot be made worse by the mention of Brexit. Once again it was the prime minister who tossed the grenade when she named 29 March as the day Article 50 will be activated.

      Investors learned two months ago that Article 50 would be triggered "by the end of March" and 29 March fits very neatly into that calendar slot. So Ms May's pronouncement hardly came as a surprise but investors nevertheless felt obliged to react by marking down the pound.

    2. #302
      UK Retail Sales

      There has been a surge in the value of sterling against the EURO following the announcement of better than expected UK retail sales in February, which rose 1.4% against a forecast 0.4%. This is a much more positive outcome than the 0.5% decline at the start of the year and signals consumer confidence is increasing despite higher levels of inflation. These new results have pushed the annual rate of retail growth to 3.7% from 1% in January and caused sterling to rebound as analysts have been predicting.

     

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