Mark Carney’s speech n Friday could give the pound another boost to end the week (Mike Vaughan)

Pound exchange rates up following positive Brexit news

Yesterday the Office for National Statistics (ONS) confirmed that the economy grew by 0.7% in the final quarter of 2013, unchanged from its previous estimate and citing a rising level of business investment helping to lift growth in the final three months of 2013. However, its estimate for growth in 2014 as a whole was cut to 1.8% from the initial reading of 1.9%.

The results were very much as expected and had little impact on the market. As a result sterling has now remained relatively flat over the past week, struggling to break through 1.67 against the US dollar, 1.22 against the Euro and hovering between 1.84-85 against the Australian Dollar.

With Mark Carney speaking at 15:00 tomorrow and recent data sets released as expected, if his speech shows a positive outlook, sterling could have a strong end to the week.

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