United States Dollar: Sterling has appreciated against the Greenback overnight. It was fairly flat trading for the currency pair during yesterday’s session with GBP/USD ranging between 1.5660 and 1.5700. Cable followed the Euro and Eurozone data yesterday with sell orders preventing a firm break of 1.5700. This morning does see the break of 1.5700 and is currently at 1.5716 ahead of what is a more data heavy day. Due out later today is the UK inflation report which is expected to exceed 3 %. If this figure comes in as expected it would be the fastest annual pace of inflation for 14 months. This is worth keeping an eye on this later.
- I expect a range today in the GBP/USD rate of 1.5620 to 1.5770
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