The British Pound (GBP) exchange rate enjoyed a strong day of gains despite concerns over the UK inflationary picture. Dominating proceedings was the release of the Markit Services PMI figure which beat expectations and confirmed the UK's economic outperformance of other developed nations remains intact.
A continuation of decent domestic data and risks elsewhere suggests demand for the British pound (GBP) will likely persist. But we may need to see a further pick up in speculative GBP long positions to see GBP/USD higher warns one analyst.
The British Pound (GBP) will today be driven by geo-political risks emanating from Eastern Europe as well domestic data out of the UK economy in the form of Manufacturing PMI.
The British Pound (GBP) is in charge on Friday and from the insights we have garnered so far we would expect more of the same for today. However, month-end flows could work against the UK currency. Stay in touch.
The British Pound (GBP) exchange rate complex is now being driven by external factors and today could see further declines against the US dollar but gains against the Euro. Could the BoE delay a hike to weaken sterling?
The British Pound (GBP) has come off the boil against the majors on Wednesday morning with shallow pull-backs being noted. Support remains firm ahead of today's GDP data release which will dominate the calendar.
The British Pound (GBP) will continue to be heavily influenced by order-driven and technical trading considerations in the current vacuum of UK data; we consider the latest views and forecasts as to where the UK currency is likely to head next.