Sterling Opens Higher, Continues to Rise vs. US Dollar & Yen

The Great Britain pound opened sharply higher today. While it has backed off closer to the Friday’s close against some peers, the sterling continued to move higher versus such currencies as the US dollar and the Japanese yen.
As for today’s macroeconomic data, the Rightmove House Price Index rose 0.7% in February after increasing 0.4% in January. Annual growth was at just 0.2%.
The news about resignation of several Members of Parliament from the opposition Labour party had little impact on the currency as apparently market participants got used to bad Brexit news.
GBP/USD traded at 1.2920 as of 14:17 GMT today after closing at 1.2886 on Friday and opening at 1.2907 on Monday. GBP/JPY closed at 142.32 on Friday and opened at to 142.54 today before moving higher to 142.87.

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