Analysis / Daily / Finance / forex

Sterling hovers near 7 week highs.

Sterling hit a seven-week high against the dollar yesterday, as some of the pessimism from uncertainty over next week’s UK parliamentary election waned with the focus on first quarter growth data due out the next day. Growth is forecast to have moderated in the first quarter, slowing to 0.5 percent from 0.6 percent, while for the year … Continue reading

Analysis / Daily / Finance / forex / Money

Weak US Data Bolsters Sterling.

The pound rallied to five-week highs against the broadly weaker dollar on Friday, as a weak U.S. economic report underlined concerns that the recovery is cooling, dampening expectations for higher interest rates. GBP/USD was up 0.88% to 1.5189 in late trade, the most since 6th March, bringing the week’s gains to 1.5%. Sterling shrugged off uncertainty … Continue reading