GBP/EUR remains in recovery after the weekend. The political turmoil appears to have subsided which has been an anchor on Sterling rates. The new Prime Minister, and a firmer hand on the UK's economy seem to be well received by traders.
Business news this morning centres on the possibility that taxes may have to rise to provide for services such as the NHS. With inflation around 10% year on year there will have to be some digging in pockets to ensure quality of life is maintained.
Today also sees a turn around in industrial action as Royal Mail staff decide not to proceed with planned strikes. Previous strikes appear to have caused job loss and a reduction in parcels and letters being posted. The reality may be that a global pandemic still has to be paid for.
Today sees UK lending to consumers followed by preliminary GDP and inflation numbers out in Europe. Anyone tracking GBP/AUD will focus on the Reserve Bank of Australia's interest rate decision in the early hours of tomorrow where analysts are predicting a 0.25% hike to 2.85%.
Today’s Economic Calendar
UK: 09:30 Consumer Credit
EUR: 10:00 Preliminary GDP
EUR: 10:00 Preliminary Inflation
AUS: Tuesday 03:30 RBA Interest Rate Decision
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.