GBP SPIKES HIGHER

The Pound has spiked higher this morning following better than expected UK employment data. The UK jobless claims change dropped at its fastest rate since November 1997.

The Bank of England Minutes also released this morning at 09:30 showed that all nine members of the Monetary Policy Committee (MPC) voted to keep UK interest rates on hold at 0.5% and furthermore were unanimous in their decision to keep the Asset Purchase Scheme known as Quantitative Easing at the current level of £200B.

Please do not hesitate to contact Currency Matters on +44 (0) 1695 581 669  for the latest exchange rates.