GBP, Highest Level Since March.


GBP – Sterling is trading at its highest level since March 24th as a report showed U.K construction expanded at a faster pace than economists predicted last month, fueling optimism that the economic recovery is picking up.


Overall, sterling rose 2.7% against the dollar in the first quarter as other data signaled the economy may be rebounding after shrinking in the 4th quarter by 0.5%. While economic conditions appear to be heading in the right direction, the BoE is widely expected to leave rates unchanged at their meeting on the 7th.(www.ibtimes.com)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s