Pound Sterling – UK Markets The recent run of soft UK economic data continued to dampen the Pound, with the Pound-US Dollar pair nudging below the 1.60 mark on Friday following a slower pace of expansion in the UK services sector for September. Furthermore, the release of upbeat US economic data heightened speculation for a sooner than expected increase in interest rates in the US, supporting the US Dollar against the majors.With no major economic releases in the UK and the US today, the Pound is trading in a tight range against the US Dollar this morning. Going forward, investors will keenly eye tomorrow’s NIESR GDP estimate in order to get further insight into the pace of recovery in the UK during the third quarter, especially in the wake of broadly mixed macro data in the nation lately. Additionally, tomorrow’s industrial and manufacturing production data will be watched closely to ascertain the pace of revival in the nation’s manufacturing sector. Furthermore, this week’s BoE policy meeting will be on tab to gauge any consensus among policymakers, primarily considering a split view among members over the timing of an increase in interest rate
Posted on: Mon, 06 Oct 2014 09:57:11 +0000
Trending Topics
Recently Viewed Topics
© 2015