GBP review: Western Union

Receding expectations for the Fed to boost U.S. interest rates helped sterling hover closer to the key $1.50 threshold, its highest in more than a week. U.K. markets are closed today for the Easter Monday holiday. 

Upside momentum for the pound should remain a struggle given that its fundamental drivers have mostly been headwinds, including uncertainty over the outcome of Britain's general election in early May, and low expectations for a U.K. interest rate before next year. 

Driving sterling this week will be news on U.K. services growth on Tuesday and the monthly trade gap on Thursday. The Bank of England renders a policy decision on Thursday.