United States Dollar: Sterling has continued to rise against the Greenback overnight. Cable had started yesterday’s session on the decline after the news that UK inflation accelerated in January to the fastest pace in 14 months. The BoE letter however showed that things weren't as bad as first feared. This saw some resistance in the currency pair’s fall. As we entered the US session the US dollar fell and most currencies pushed higher against the currency. Sterling was no exception to this and we see the break of 1.5800 for GBP/USD this morning.
- I expect a range today in the GBP/USD rate of 1.5720 to 1.5850
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