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The Pound Sterling edged higher in London trade, buoyed by unexpectedly upbeat data earlier this week and an overall weaker US Dollar.
By the end of the trading day, the Euro could record the first weekly gain in nearly seven weeks as concerns over a brewing political crisis in Italy seems finally to be fading.
Get the Weekly Forex Forecast for major pairs for the week of May 14, 2018.
The Pound Sterling was steady during London trading and remained close to a 4-month trough as FX traders prepare themselves for the Bank of England’s monetary policy decision due to be released shortly.
The British Pound was trading close to a 4-month trough as FX traders await a policy decision from the Bank of England tomorrow.
The Pound Sterling edged lower ahead of this week’s policy meeting of the Bank of England.
The EUR/GBP pair has fallen initially during the month of April, but then turned around to show signs of support at the 0.86 level, bouncing over the last couple of weeks.
The Pound Sterling earlier hit a 4-day trough against the US Dollar after the unexpected release of inflation data which failed to meet analysts’ expectations.
Earlier during Tuesday trade in London, the Pound Sterling had hit a 22-month high.
The Pound Sterling edged higher against the US Dollar with FX traders focused on the latest data which could help raise expectations of another imminent rate hike from the Bank of England.
The Pound Sterling is now higher after an initial kneejerk reaction to the latest economic data which left some FX investors wondering about the Bank of England’s own reaction to the information.
The common currency Euro had earlier struck a fresh 5-week peak versus the US Dollar as concerns that a global trade war had been brewing now seem to be receding.
The Pound Sterling edged higher versus the US Dollar on a swing in sentiment in favor of a May rate hike from the Bank of England.
Investors continue to remain wary of the Brexit negotiations and as a result have sold off the Pound Sterling once again.
The Pound Sterling once again is under pressure as FX traders await the official release of the first draft
The Pound Sterling moved higher against the US Dollar as investors sit on the sidelines ahead of testimony from Jerome Powell, the newly appointed chief of the US Federal Reserve Bank.
The Pound Sterling struck a 5-week trough versus the common currency Euro as investors wait to hear what the British Foreign Secretary will have to say about the Brexit Process.
The Pound Sterling gained strength during trading on Thursday after a tough week of losses.
The Pound Sterling inched higher after the Markit release for PMI Services was released earlier today; the survey for December showed sectoral growth
The Sterling remained close to a 3-month peak vs. US Dollar despite the latest PMI data which showed that growth slowed somewhat in the construction sector in December