by Damian -
The pound fell to the weakest in 10 months against the US Dollar after the latest inflation report slowed to the lowest level in five years. GBP has dropped against all 16 of its major peers as the Bank of England publishes the minutes of its most recent policy meeting tomorrow.
Sterling has dropped 3.1 percent against the USD in the past month as polls showing Scotland may vote for independence damped demand for sterling amid concern a split in the 307 year old union will destabilize the British economy.
In the euro area, the Germany ZEW survey was scheduled this morning but not having much of an impact on the pound euro.
Elsewhere later in the day we have the August PPI for the US.
The markets continue to remain volatile ahead of the Scottish referendum. Where will the rate go is the big question that remains to be seen!
Please contact me to discuss SPOT pricing, FORWARD pricing or alternatively placing MARKET ORDERS at pre-desired rates.
P.S. WHY NOT TAKE ADVANTAGE OF THE STRONG USD AND LOOK AT SECURING GBP ON A FORWARD CONTRACT FOR UP TO 2 YEARS IN ADVANCE. WE ONLY REQUIRE A 3% GBP DEPOSIT TO SECURE A RATE GIVING YOU PEACE OF MIND AGAINST RATE FLUCTUATIONS.