The British Pound has extended its short-term rally over the course of the past 24 hours, and in the process broken above 1.18 in GBP/EUR and above 1.31 in GBP/USD, thanks to further signs of growing economic optimism in the UK. However, the higher Sterling goes, the further it has to fall on Friday if the highly anticipated flash PMIs disappoint.

January 23,2020

The British Pound was seen gaining after the release of data out midweek that showed optimism amongst British businesses picked up sharply in the month of January, providing further evidence that January 30 might be too soon for the Bank of England to cut interest rates.

January 22,2020

The British Pound is now recording an advance against the Dollar and Euro for the period that covers the past month, as the weakness in the UK currency that characterised the first part of January starts to fade.

January 22,2020

Pound Sterling was seen trading higher against the Euro, Dollar and a host of other major currencies on Tuesday, Jan. 21 after the release of official labour market figures that showed both a jump in employment and wages in December.

January 21,2020

The British Pound forecasts held at Swiss private bank Lombard Odier have been lowered, with analysts citing anxieties over the EU-UK trade negotiations as well as the 'dovish' shift adopted by the Bank of England.

January 21,2020

The British Pound endures a soft start to the new week, going below 1.30 against the Dollar and trending back towards 1.17 against the Euro, as markets digest latest developments concerning EU-UK trade negotiations and await a key set of economic data due out at the end of the week that should dictate as whether the Bank of England cuts interest rates or not on January 30.

January 22,2020