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John from Moneycorp

The Pound vs Australian dollar

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Pound looking to end the week on a high

After some difficult weeks, the pound looks to be ending the week on a high, rising against most major currencies.

Positive retail sales in the UK and snippets of good news on the Brexit front this week appear to be contributing from the pound’s perspective.

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Pound boosted today.

The Bank of England (BoE) Monetary Policy Committee (MPC) voted unanimously to maintain the interest rate at 0.5%. There were hints that rate rises would be on the cards for the future as the Bank of England upgraded forecasts for UK growth from 1.6% to 1.8% for this year. If the economy progresses as forecast, the Monetary Policy Committee highlighted that “monetary policy would need to be tightened somewhat earlier and by a somewhat greater extent over the forecast period”.


 

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