Currency Solutions

Sterling breaks the $1.30 barrier after release of better than expected retail sales data.

The Bank of England (BoE) had its meeting on a Super Thursday and released its inflation report. Sterling fell against the US dollar to $1.28 after the BoE's release. It has hit a one week low against the dollar.

The Pound may spike higher today if the Bank of England governor's "Super Thursday" speech and monetary policy include a suggestion of raising interest rates in the future. Rising core inflation has been steadily moving past the Bank's target rate of 2%.

Thinking of buying a Spanish property? Spain is back on Ernst & Young's top ten list of countries for real estate investment and seeing record tourist arrivals, too.

Data released just now has indicated that production in Britain’s industrial sector grew at a faster than expected pace, while manufacturing production missed market estimates for May.

Britain’s construction activity reading today indicated that the sector performed stronger than market consensus for June, indicating that the economy is on a largely firmer footing compared to the first quarter.

The just out revised reading of UK GDP showed that the economy expanded at a faster pace than previously estimated for the first quarter, alongside expansion in business output and higher consumption levels.

This week, Sterling has slipped slightly from its seven-year high but remained strong. Market gurus are pointing to the market's pensive attitude concerning the possibility of a Greek default, which could be bad news for the Eurozone.

The just out retail sales report in the UK suggests that consumer spending was stronger than anticipated and fears that spending would stall were unfounded. Today’s upbeat figures have reduced concerns surrounding growth in the nation.

The latest NIESR projection showed that economic growth picked up in the UK for the three months ending in May. The agency also expects the Bank of England to raise interest rates early next year.