11 Apr 2014
Better prospects for UK economic growth boosted GBP - Investec
FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec, noted the GBP outperformed after the IMF revised higher its growth forecast for the UK economy.
Key Quotes
"It’s been a week of USD weakness as speculative long positions have been taken out, following last Friday’s Non Farm payrolls data. Against the Pound we saw the dollar weaken from the mid 1.65s to the low 1.68s (although the pair retraced slightly yesterday and overnight)".
"The big move of the week came on Tuesday when GBPUSD rose a cent and a half after the IMF raised its growth forecast for the UK for the second time in twelve months and we also learnt that UK manufacturing numbers surprised heavily to the upside."
Key Quotes
"It’s been a week of USD weakness as speculative long positions have been taken out, following last Friday’s Non Farm payrolls data. Against the Pound we saw the dollar weaken from the mid 1.65s to the low 1.68s (although the pair retraced slightly yesterday and overnight)".
"The big move of the week came on Tuesday when GBPUSD rose a cent and a half after the IMF raised its growth forecast for the UK for the second time in twelve months and we also learnt that UK manufacturing numbers surprised heavily to the upside."