Sterling continues the strengthen – NIESR and Mervyn King reasonably positive

The Pound has had a pretty decent few days against the majority of currencies hitting over 6 week highs against the Euro and in general performing pretty well.

It appears investors confidence is rising following QE (Quantitative Easing) not being introduced at the last interest rate decision and Mervyn King’s inflation report for once yesterday not causing major Sterling weakness. Usually of late he has managed to talk the Pound down during releases such as this but on this occasion it appears the tables have turned….

We are looking at an extremely quiet day on the markets today apart from any surprises however overnight we see U.K Consumer Confidence figures and tomorrow at 07:00am and 10:00am we will have German and European GDP (Gross Domestic Product) figures respectively – Anyone with an interest in buying or selling the Euro may wish to consider their options before this release… potentially a stop and limit order may come in handy.

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