Sterling jumps after UK services PMI data

money transfer comparison table

Earlier today Sterling jumped against the Euro and US Dollar after a higher than expected service sector PMI data report, hitting a seven week high against the dollar. Bank of Scotland's Treasury currency analyst Wahid had this to say "The UK PMI has snapped up quite sharply higher and we're seeing sterling rally on the back of that".

The Euro rose early on Thursday after the ECB cut interest rates by less than expected, down 25 basis points rather than 50 basis points. But before the Euro could push on the ECB President Jean-Claude Trichet signalled there may be another cut in interest rates next month, as well as a decision on non-standard measures.

Unemployment looks likely to rise over the next few months according to Alistair Darling. Unemployment hit a 12 year high last month, hitting 2 million unemployed.

If you would like any currency guidance during this hectic time, do not hesitate to contact one of our senior brokers at Currency Index on 0800 043 2623

Company Details

Sterling jumps after UK services PMI data

Get a quick quote

Open Account with Moneycorp

Moneycorp are located at:
The Zig Zag Building, 70 Victoria Street, Greater London, SW1E 6SQ, United Kingdom

Get a Quick Quote

Newsletter Signup to CMT

Sign up to our foreign exchange newsletter to receive news updates directly by email

Compare Money Transfer will not Share your details!

Bank Exchange Rates Comparison

High St Bank Exchange Rate

All Rights Reserved: Copyright 2006 - 2018 Compare Money Transfer Limited offering FCA Regulated Suppliers - 34 New House, 67-68 Hatton Garden, London, EC1N 8JY. +44 (0) 843 357 4882