The Sterling traded largely in range against the USD on Wednesday. Data released from the BBA Mortgage Approvals proved negative with a number of 35.7k, below the estimate of 37.6k. The U.K. continues to publish mixed data and today the CBI Realized Sales are on the calendar. The reading is forecasted to be 13, which would match the previous CBI report. The GBP continues to be under the spell of EUR centric sentiment, but the Sterling has shown the ability to trade in a slightly divergent manner on occasion. The CBI publication today could be enough to bring about impetus, but Sterling traders must remain aware of a complex web of news.
Written by bforex.com