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Good morning,
The Pound rate continues to bang it’s head on the technical resistance level. The longer it stays at this level the better, in a way. Statistically speaking it’s a good sign it could break through although that’s not to say it won’t fail. There’s just a greater likelihood it will push on as sell orders get used up. UK employment data out tomorrow morning might have an effect, so we will be keeping a close eye on it.
Across the board it looks like the Pound has regained strength over recent sessions including against the Dollar, the Yen and the Swedish Krona. All of this bodes well for anyone making an international payment from Sterling this week.
Throughout the day the yawnathon continues with further speeches from the ECB committee. Nothing out so far has had an effect on rates, so maybe this pattern will continue.
As ever we look forward to keeping you in the loop and look out for our next update.
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Today’s Economic Calendar
EUR: 13:00 ECB’s Lane Speech
EUR: 15:45 ECB’s Elderson Speech
UK: 07:00 Employment Data
