Better than expected industrial and manufacturing data for the UK for June released yesterday helped support sterling. This saw sterling gain nearly a cent against the US dollar and just under half a cent against the euro at the start of the day. During the course of the day we saw some of these gains given back. Today we have the Bank of England’s inflation report released which again has the potential to surprise and as we have seen surprises can result in rapid movements either way. Call in now to see how sterling is faring.

The euro continues to benefit from a belief that the European Central Bank will continue to buy the government debt of Italy and Spain. Germans support announced on Monday for the ECB’s actions was clearly very helpful. However the detail of how full intervention will work is still awaited and experience over the last two years has been one of constant disappointment. Get the latest news by calling in.

The US dollar continues to trade in a narrow range against sterling with a peak around the US$1.57/£1 level and a low at US$1.55/£1. As noted better than expected UK economic data boosted sterling in the short term as it pushed up towards the upper end of this range yesterday morning. Limited economic data out in the US today so it is likely to be news elsewhere than influences movement. Get the latest rates now by calling.

The Australian dollar pushed towards a low of 1.47 against sterling yesterday as the Australian Reserve Bank keep interest rates on hold at 3.5%. Very much as expected but highly supportive as investors wanting a triple A and high yielding currency will look no further than the Australian dollar. See how the other currencies are performing by getting in touch.

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