UK Economy Grows by 0.7% Since JanuaryApril 7, 2015 2:09 pm
The Confederation of British Industry has released a report stating that the UK’s economy has grown by 0.7% since January. This is good news for the Pound and comes just as the Bank of England prepares to set interest rates for the last time before the UK’s general election.
Both distribution businesses and consumer services strengthened and the monthly services purchasing managers interest index saw its biggest gain in more than a year.
Positive news such as this has contributed to the strengthening of the British Pound over the past few days but we will expect the currency to be volatile in the coming weeks leading up to the election. Ongoing worries relating to the Eurozone and Greece’s bailout package are also contributing to the Pound’s erratic behaviour against most major currencies.
If you are concerned about the Pound weakening against Dollars, Euros or any one of our 32 currencies; place a Rate Alert and we’ll let you know straight away if the market drops to this point. Alternatively, if you would like to secure a rate when it becomes available, book an Order.
Categorised in: News
This post was written by Kayleigh Driscoll