23 Apr 2014
M&A also supporting GBP - Investec
FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec, observed that the M&A sector was also bolstering the recent GBP upside.
Key Quotes
"The pound continued to look well supported yesterday, trading just shy of the GBPUSD 2014 high, in the 1.6800-40 range. Talk of some significant merger and acquisition activity that generated GBP buying drove some of the Sterling strength, continuing the recent theme of the pound not only being supported by fundamental news but also M&A activity".
"The broad strength in the pound resulted in GBPEUR testing 1.2200 for the first time since the end of February but it couldn’t quite break through that level and has retreated overnight."
Key Quotes
"The pound continued to look well supported yesterday, trading just shy of the GBPUSD 2014 high, in the 1.6800-40 range. Talk of some significant merger and acquisition activity that generated GBP buying drove some of the Sterling strength, continuing the recent theme of the pound not only being supported by fundamental news but also M&A activity".
"The broad strength in the pound resulted in GBPEUR testing 1.2200 for the first time since the end of February but it couldn’t quite break through that level and has retreated overnight."