Sterling forecast and report – the week so far and looking forward

GBP EUR Looks to Employment Figures for Support

The Pound started of the week poorly then managed to have a fantastic few days of gains and positive data which has bought up some great buying and selling opportunites so far.

Unemployment data came out much better than expected for the U.K which led to large Sterling gains over the course of the following 24 hours.

It is not surprising to see data releases coming out much better leading up to an election…. i’m sure the figures were spot on however that element of doubt always creeps in as the Government are battling to regain their position.

Today the Pound has lost ground following comments from one of the members of the Bank of England Andrew Sentance saying the following:

“You have to recognise there is some risk of a double dip, but that’s not the central forecast”

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