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Whilst the British Pound has weakened against the Euro (GBP/EUR) in early trading today following a stronger than anticipated German economic settlement index, it is trading close to an 8-month high against the US Dollar.

At 13:45 GMT the GBP/EUR currency pair was trading just shy of 1.1900.

Despite the fact that inflation in the UK slowed to 2.7% in August 2013 from 2.8% the previous year, the British Pound showed a small gain.

Recently, the markets have become accustomed to UK data outperforming and, as a results, there has been a renewed confidence in UK assets and companies. Consequently the British Pound has been trading higher and most of its earlier losses have been recouped.

On Wednesday, the minutes of the Bank of England’s recent policy meeting are expected to be released. Following that, it is expected that the GBP/EUR pairing may well turn bullish once more. The minutes are expected to relect the positive position taken by BoE Governor, Mark Carney, and Sterling is expected to advance accordingly.

Other UK economic news expected to be released on Thursday of this week includes domestic retail sales data.

If UK retail sales increase by 3.2 per cent in August year-on-year and beat expectations for month-on-month stagnation, the Pound is likely to head for a third week of five-day gains against peers such as the US Dollar and Euro, that despite the mid-week volatility likely to be caused when the US Federal Open Market Committee announces its decision regarding tapering quantitative easing.

Whether you’re paying an overseas mortgage, transferring a UK pension to another country, or making a regular salary transfer, we’re sure that our international payments service can help!

To take advantage of this service, and arrange your international money transfer visit www.leadercurrency.com and follow just a few simple steps to register and open your account. Alternatively, call our foreign exchange hotline on +44 (0)115 827 7201 (Head Office – UK) or +34 96 626 5024 (Sales Office – Spain) or send us an email to enquiries@leadercurrency.com for more information.

Filed under: http://www.theleader.info/article/40676/

International Money Transfers | Online International Payments | International Payments | Foreign Exchange | Send Money Abroad | Currency Exchange

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