16/04/2018 - Pound Jumps To Highest Level Against Dollar Since January - 16/04/2018

GBP

On Friday morning the pound  jumped to its highest level against the US dollar since January as the greenback continued to fall on uncertainty surrounding the US-China trade wars. There was little economic data out on Friday to support the pound but many commentators noted the pound had broken through key technical levels to the upside that exacerbated  sterling strength during Fridays trading session. 

Positive momentum for Sterling last week was provided a boost BoE hawk Ian McCafferty who insisted the that there should be no delay in raising interest rates again. Chief EU negotiator also indicated that the EU would be willing to offer more flexibility on the timing to agree transition terms, helping push the pound to recent highs.

Key Announcements

13:30 - USD - Retail Sales expected to be higher at 0.4% from -0.1% 

13:30 - USD - Core Retail Sales forecast to remain at 0.2%