United States Dollar: Sterling’s recent rise against the US dollar hasn't maintained for the start of today’s session. The Pounds losses came on the back of UK data coming in less than positive. UK January unemployment data came in worse than median forecast overall painting a very unpleasant picture. This saw cable fall off from its early rally over 1.5800 back closer to 1.5700. A strong Greenback pushed the currency pair even lower as we entered the US session with FOMC minutes amongst other data all coming in positive. GBP/USD back down at 1.5626.
- I expect a range today in the GBP/USD rate of 1.5550 to 1.5740
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