The Great Britain pound fell today despite better-than-expected macroeconomic data from the United Kingdom. Still, the currency was heading to a weekly gain against the euro and the Japanese yen, though it likely to end the week with losses against the US dollar.
The sterling was soft today even though the report about public net borrowing was better than market expectations. Still, analysts say that the currency remains attractive to currency traders. With the elections out of the way, the possible interest rate hike is now in focus of market participants, and this makes the pound appealing, especially compared to other European currencies.
GBP/USD dropped from 1.5660 to 1.557 as of 12:55 GMT today. EUR/GBP rallied from 0.7092 to 0.7126, though it backed off from the daily high of 0.7162.
If you have any questions, comments or opinions regarding the Great Britain Pound,
feel free to post them using the commentary form below.
Be First to Comment