Above: The traders piled into the pound overnight when the Bank of England announced it was considering raising interest rates sooner than markets had expected.

The British pound (GBP) is firmly on the front-foot against the euro at present as the interest rate differential between the Eurozone and UK continue to widen. Overnight the GBP/EUR powered to 1.25 - the best exchange rate witnessed since November 2012.

June 13,2014

Above: BoE Governor Mark Carney sends the pound sterling sky-high against the euro. But look at the RSI indicator which is reading well above 80 warning of overbought conditions.

The British pound (GBP) shot higher against the euro on Thursday evening on a shock message issued by the Governor of the Bank of England. On Friday we are seeing buying interest remain firm.

June 13,2014

The British pound (GBP) is forecast to enjoy a bullish run against the euro in the long-term thanks to widening interest rate differentials between the UK and Eurozone.

June 12,2014

The pound euro exchange rate faces an important session on Thursday while the pound dollar rate will see increased volatility on Friday.

June 6,2014

Above: The pound euro exchange rate shot higher after the ECB announced it is cutting the refinancing rate to 0.15% from 0.25%.

The British pound (GBP) exchange rate complex is one of the better performers in global FX as economic data releases continue to make the UK unit a preffered destination. We saw this play out Thursday when the ECB announced an interest rate cut. 

For the sterling dollar rate Friday's US Non-Farm payroll release becomes the central theme. A look at the exchange rate markets on Friday shows:

June 6,2014

Today's exchange rate market place remains confined to recent ranges with the UK's sterling suffering a lack of interest.

May 24,2014