During April traders were betting against GBP/EUR with rates dropping significantly.
That's all turned around in May with rates getting closer to year highs.
There's still a way to go, but the trajectory looks promising.
With little scheduled news over coming days, it could be key note speeches that moves things.
GBP/USD could be slightly different. Whilst there are key speeches affecting this currency pair, there's also preliminary GDP data out of the US tomorrow.
Analysts are expecting annualised quarter one contraction of -0.3%.
Before the weekend, Japanese Yen will also be in focus with their inflation rate being reported in the early hours of Friday.
Expect annualised growth of 3.7% to be reported.
UK: 13:30 BoE's Huw Pill Speech
US: 19:00 FOMC Meeting Minutes
UK: Thursday 10:00 BoE's Sarah Breeden Speech
US: Thursday 13:30 Preliminary GDP Data
UK: Thursday 20:00 BoE's Andrew Bailey Speech
JPN: Friday 00:30 Inflation Report
As ever we look forward to keeping you in the loop and look out for our next update.
Our friendly currency experts are here to assist you and guide you through the markets, we offer a first-class service and even an online platform so you can monitor your transaction in real time.
Our business ethos is based on bank beating rates and fantastic customer service, click the link below for a no obligation quotation and see the savings for yourself.