UK Pound Looks to Hold Steady to End the Week

UK pound is hoping for steadiness to close out the week. It’s been an interesting week of ups and downs, but right now sterling is eking out gains against most of its major counterparts.

For the sterling this week, performance has been largely data-driven. The negative UK inflation reading early on sent the pound lower against many of its counterparts. However, by the end of the week better news regarding employment and wage growth had helped the sterling gain some ground.
There are now hopes for the UK pound, and the sterling is holding mostly steady against its major counterparts, rising especially against the euro, which continues to struggle as concerns about more stimulus once again circulate.
Sterling has been see-sawing against the dollar this morning, though. Policy divergence continues to be a main driver of the difference between the pound and the greenback. However, overall, the pound looks to be in a good place for right now, although more weakness could be seen in the long term.
At 14:06 GMT EUR/GBP is lower, dropping to 0.7356 from the open at 0.7362. GBP/USD has slipped a little bit lower, dropping to 1.5460 from the open at 1.5464. GBP/JPY is higher, gaining to 184.2120 from the open at 183.8400.

If you have any questions, comments or opinions regarding the Great Britain Pound,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *

+ 57 = sixty