Currency Markets

Sterling is now trading at a one year high against the US dollar and the highest in almost two years against the Euro as traders have cut bets on a reduction of interest rates. The new Labour government has also boosted sterling.

The Office for National Statistics has released data showing UK GDP has grown 0.4% in May 2024 after no growth in April 2024. The improving economic growth has added to doubts that interest rates will be cut at the next review on 1 August 2024. 

If you are currently trading or thinking of trading in Currency or Futures and Options, Market Makers, Brokerage, or Fund Management then it is very important to choose the correct accountants. Contact us on 01323 411222 or info@advanta-ca.com.