Sterling remains fairly flat as we start to see the first sets of economic data from April (Daniel Wright)

The Pound has remained reasonably stable over the course of this week so far, hanging in the 1.29s against the USD and in the 1.18s against EUR.

The next few mornings will be key for Sterling’s performance as the week goes on as we will start to see the first releases of economic data for how the U.K economy performed in April.

On top of this we have some key economic data releases from the States with the Federal Reserve interest rate decision and monetary policy statement. A change in interest rates for the U.S cannot be ruled out but at present it is unexpected to happen this evening. The monetary policy statement will be of most interest as it will suggest what the plan is for future interest rate change for the States. This will impact all major currencies as it can alter global attitude to risk and lead to quite a bit of market volatility.

This morning we are due out construction data for the U.K and tomorrow morning we are due to have services data, both are due out at 09:30am. These releases will have a fairly large impact on our overall growth figures so will be of key importance, expectations are for both to have dropped down a little but for them to still remain reasonably positive.

All in all I expect a slightly quieter week for the Pound than recent weeks, but with the French election and potential surprises popping up at any money is is always import to keep an eye on the exchange rates during this strange period around the globe.

If you have a large currency exchange to carry out in the coming days, weeks or months then you are more than welcome to speak with me directly as I will be more than happy to help you both with trying to time a transaction and getting you the top market rate when you do come to buy your currency. A small improvement in a rate of exchange can make a huge difference so for the sake of taking two minutes to email me you may find you save yourself hundreds if not thousands of Pounds. You can email me (Daniel Wright) on [email protected] and I will endeavour to get back to you as soon as I can.