The Sterling has found itself doing better against the USD the past week of trading under the pronouncements by the U.K. government, which insist it will pursue austerity measures. There is little doubt that the GBP remains at the weaker side of its value against the greenback, but its performance the past couple of weeks shows that the Sterling does enjoy backing. There will be plenty of data from the U.K. this week, tomorrow Mortgage and Lending figures will be released and on Wednesday the Final GDP and Nationwide HPI will be published. The economic landscape in the U.K. remains murky and investors continue to show signs of caution like their global counterparts. The GBP has enjoyed solid trading recently and its range must be watched carefully.
Written by bforex.com