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  • The British pound held on to its five-year high against the US dollar after positive services data raised speculation the Bank of England could raise interest rates early next year. The UK service economy expanded sharply in April, with employment rising in line with the positive growth outlook, Markit Group reported Tuesday. Since that release,

  • Forex » US Dollar Remains Subdued
    April 25, 2014, 14:44 GMT

    The US dollar was trading lower against a basket of currencies amid signs the US economy may have hit a rough patch in April. Meanwhile, ongoing tensions in the Ukraine kept risk sentiment tame, as the Japanese yen climbed in intraday trade. The US dollar index fell further below the 80.0 handle Friday. The index

  • Forex » UK Retail Sales could Test GBP/USD
    April 24, 2014, 19:15 GMT

    The GBPUSD pair edged higher Thursday amid a spate of economic data from the United States and Europe. One of the pair’s final test comes Friday with the release of UK retail sales. The UK retail sector continued to strengthen in March, experts say. Friday’s report, courtesy of the Office for National Statistics, could show

  • The British pound peaked at 1.6841 US overnight, the highest level since 2009, as stronger than forecast employment data fueled speculation of an early rate hike. By the morning, the GBPUSD pair was trading at 1.6818, recovering from an intraday low of 1.6795. Sterling soared Wednesday after the Office for National Statistics said UK jobless

  • Forex » GBP/USD still has Higher Potential
    April 16, 2014, 17:22 GMT

    The British pound was well supported today, testing yearly highs amid stronger than forecast labour market data. As the shortened week draws to a close, the forex market is eying a higher upside for the GBPUSD pair, which is still deciding whether to breakout toward 1.70. UK jobless claims declined 30,400 in March, after falling

  • H.S. Borji

    The Office for National Statistics will report on UK employment and earnings data Wednesday, giving investors a closer look at the pace of UK recovery. Last month the ONS said jobless claims declined 34,600 in February, while earnings accelerated 1.4 percent. Tomorrow’s data could show UK jobless claims fell by 30,000 in March, while average

  • H.S. Borji

    Tuesday’s inflation report kicks off an active week for the British pound, which retraced most of its losses Monday after falling to a session low of 1.6697 US. UK inflation eased to 1.7 percent annually in February, the Office for National Statistics reported last month. Consumer inflation in January fell below the Bank of England’s

  • UK GDP expanded at a steady rate in the three months through March, offering further sign the economy is on pace to recover its pre-recession peak. The UK economy accelerated 0.9 percent between January and March, the National Institute of Economic and Social Research reported today. UK GDP was revised from 0.8 percent to 0.9

  • H.S. Borji

    The UK manufacturing industry had a solid first quarter, despite cooling somewhat from the near-record growth rates seen in the second half of 2013. Increased production and new business continued to drive recovery, with February experiencing the fastest pace of job creation in 33 months, according to Markit Group. The Office for National Statistics will

  • H.S. Borji

    A lack of economic data didn’t hold back the British pound today, as England’s currency continued to strengthen versus the US dollar and euro ahead of a key retail sales report. Thursday’s report on UK retail sales, courtesy of the Office for National Statistics, could show a monthly increase of 0.5 percent. Annually, this would

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