The Sterling has been put on its heels the past couple of weeks on risk adverse trading. It may prove to be a rather light week for data for the GBP up until the Revised GDP numbers on Friday. Today there will be no data and tomorrow the BBA Mortgage Approvals will be published. Essentially the Sterling finds itself being traded in a whirlwind consisting of concerns about growth versus austerity measures. Like other counterparts, the U.K. is also under the shadow of a possible downturn occurring in the States and the impact that this could cause. The GBP has had a good summer of results against the USD, and the question is if there is any gas left in the tank for the Sterling – or will safe haven trading rule.
Written by bforex.com