Sterling fell during Friday’s trading session following the announcement of UK growth on Friday morning. The official figures showed a growth rate of 3% which was down from the annualised rate the quarter before which showed 3.2%.
The news is not actually that bad it was just a bit lower so I think the markets will not dwell on the news.
The big event of this week coming up will be the Federal Reserve’s Interest rate decision to be held on Wednesday night. The Fed are likely to end their current monetary easing from USD15bn to zero which could lead to a sell off from the Aussie Dollar which could see the Australian Dollar exchange rate weaken.
If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote. Tom Holian [email protected]