+
For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
.png){kind=logo}
For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
Yesterday saw the Monetary Policy Committee in the UK vote to keep the base rate at 4.75%.
However it was the vote count that shook things up.
It was expected to be nailed on with an 8 to 1 vote to keep rates where they were.
The actual vote count was 6 to 3 which indicates a February cut is likely.
This sent shockwaves into Pound rates which instantly took a dive.
After a period of ascension is this the time for reversal?
The previous resistance level versus the Euro may well turn into the support level.
Retail sales numbers out earlier didn't help matters being 0.3% worse than expectations.
Going into the weekend there's US personal income and expenditure numbers later before the UKs GDP reading out at breakfast on Monday.
Quarterly growth of just 0.1% is expected on Monday which is borderline contraction.
Business news centres on the potential shut down of non essential Government functions in the US if a spending bill isn't passed today.
US: 13:30 Personal Income and Expenditure
UK: Monday 07:00 GDP Report
As ever we look forward to keeping you in the loop and look out for our next update.
Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.
Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.
