Higher productivity should lead to higher wages which should in turn allow the Bank of England to confidently raise interest rates. And higher interest rates make for a stronger Pound.
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The Pound is rangebound in early London trade on Thursday, January 4 but markets could spring to life on the release of the all-important services PMI due at 09:30.
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Data from major financial institutions reveals traders are increasingly betting Pound Sterling will rise over coming weeks and months, or would it be more accurate to say they are no longer willing…
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Pound Sterling is seen in familiar ranges against major competitors, but the release of U.K. Manufacturing PMI could finally inject some movement into the market.
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“The UK labor market is the tightest in G10, with the unemployment rate at an all-time low. At the same time, GBP is the most undervalued G10 currency,” - Bank of America Merrill Lynch.
Read more … →Pound-Dollar breaks 1.35. Pound-Euro flatlines at 1.1254 after EUR/USD surge. Italian election, economics and a weak Dollar are all in focus.
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Pound Sterling on front foot in final week of 2017. Economic and political news flow is thin but there’s scope for low volumes to exaggerate moves in FX.
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