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Global Exchange

Exchange Rates for Thursday 17th May 2012

12 Apr

Sterling ends the week on a high

Sterling had a good end to the week, rising almost one cent as investors cheered stronger than forecast producer price inflation in March. Sterling also rose against the Euro as uncertainty over Greece continues however, Sterling’s gains against the Euro was pared back after comments from ECB President Jean-Claude Trichet, who said that "default was not an issue for Greece."

The latest trade balance figures provide the highlight in a quiet week on the UK's economic calendar. In contrast the US sees a much busier schedule, including Monday's Budget statement, plus trade balance, inflation, retail sales and industrial production data through the week. On Wednesday all eyes will focus on the Fed's Beige Book. 

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