Sterling has had a steady week gaining a bit of ground against the euro and losing a bit of ground against the US dolalr. Economic data was mixed with unemployment data released this week slightly worse than expected and the trade deficit figures slightly better than expected. One of the government debt credit agencies put the UK’s AAA debt rating on review which seemed to have limited effect. Next week we have the budget and it will be very interesting to see what the Chancellor’s expectations are for the UK economy. Although it was a steady week for sterling overall there were some rapid changes in rates and therefore it is always worth giving us a ring to get the latest update and rates.

The euro lost a bit of ground this week. Slightly strange given that euro zone economic data was slightly more positive than expected and that the second Greek bailout has finally, it appears, been sorted out. Concerns about euro zone countries are still around and their size significantly dwarfs what was required in Greece. Call in now to get the latest €/£ rate.

The US dollar gained a little bit of ground during the week but is trading in a fairly narrow range against sterling. Economic data out of the US continues to be positive which reduces the likelihood of further quantitative easing in the eyes of market which is positive for the US dollar. For the latest update and rate please call.

Elsewhere the commodity backed currencies lost a bit of ground with the Australian dollar pushing over Aus$1.50/£1. It did pull back to Aus$1.49 level towards the end of the week but the worry is that the Chinese economy will reduce the demand for commodities as they rebalance their economy.

Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/