The public sector net borrowing in the UK came in slightly better than expected this morning at £21.5 billion. That's still pretty eye watering. Help with energy bills is being cited as the main reason. Interestingly this had an immediate negative effect on Pound rates, but the dips were gained back quickly.
GBP/EUR - rates remain towards the bottom of the longer term range
GBP/USD - The Pound has been gaining strength recently
GBP/AUD - The Pound has been gaining strength recently
GBP/CAD - The Pound has been gaining Strength recently
Today sees a speech by the Bank of England's Ben Broadbent followed by US consumer confidence. Later there's New Zealand import and export numbers before Australian inflation data in the early hours of tomorrow. Analysts are expecting an annualised rate of 6.6% growth.
Business news centres on further fallout from the US banks as more data is revealed about the recent runs on some of their banks. In the UK it's about those who qualify for cost of living payments and a more detailed dive into the public sector net borrowing.
Today’s Economic Calendar
UK: 10:00 BoE's Ben Broadbent Speech
US: 15:00 Consumer Confidence
NZ: 23:45 Imports and Exports
AUS: Wednesday 02:30 Inflation Data
As ever we look forward to keeping you in the loop and look out for our next update.
Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.
Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.