GBP review

The weakness in US Dollar sent the Pound to highs not traded since November last year. The Sterling Pound is now up 8.6% from the low it traded April 13, just a month back. The move was a combination of better than expected data in UK and weak US retail sales data which was another weak data point. 

The FOMC members continue to talk about a June-September rate hike but the market does not seem to be convinced with only employment data holding up. 

The Pound will be driven by the strength or weakness in the US Dollars over the next few days, with elections out of the way and no data releases scheduled till middle of next week when we have inflation data both at the Producer and Consumer level & the Bank of England meeting on Tuesday and Wednesday next week.