GBP – Sterling Recovers For A Day

No major economic data came from the U.K on Wednesday and today only the CBI Realized Sales will be brought forth. Today’s release has an estimate of 23, which is below the previous result of 33. The Sterling did gain yesterday as traders showed some risk appetite. Tomorrow the Revised GDP numbers are on schedule and this will likely prove to be an important judgment for the GBP. Prospects for economic growth have been argued far and wide regarding the U.K. and investors monitor the report’s results carefully and weigh them against the austerity measures that are being implemented by the government. The Sterling may have a dollar centric day of trading, but certainly traders will begin to position themselves for tomorrow’s important round of homegrown data.

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