Pound Heads to Weekly Gains Despite Falling on Friday

The Great Britain pound fell today but remained on track to weekly gains as political uncertainties in the United States and the European Union drew traders’ attention away from the Brexit.

Analysts said that traders focused on European elections and news from the United States, meaning that the Brexit has lesser impact on the currency market now than it had before. Yet they also argued that Britain’s exit from the EU may yet return in the spotlight and is likely to weigh on the sterling in the medium term.

As for Friday’s economic data from Great Britain, it was good with British Bankers’ Association reporting that there were 44,657 mortgages approved for house purchases in January, a number than was higher than the December’s one and the one predicted by forecasters.

GBP/USD slid from 1.2555 to 1.2524 intraday though bounced to 1.2552 as of 12:24 GMT today. EUR/GBP gained from 0.8425 to 0.8451.

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