GBP review

The Pound Sterling continued its upward march after the rally post the Conservative Government headed by David Cameroon won a majority and has a clear mandate to deliver on his election promise of creating jobs, cutting taxes, etc. 

The sterling pound hit the highest level since December on Tuesday on upbeat economic data. Industrial output was up 0.5 percent, way above market expectations of a flat reading. Manufacturing output was up at 0.4 percent slightly above market expectations. 

The momentum of this rally in the Sterling Pound has pushed it above the 200 day moving average for the first time since Q3 last year.