Sterling has started off the week making gains against a basket of major currencies, most noticeably against the Dollar, gaining 1.21% at the time of writing this email and hitting Three month highs.
This poses the question - will these gains continue over the course of the week??
Data due out in the early part of this week is relatively thin on the ground for the U.K however Wednesday that all changes completely.
Wednesday sees the release of unemployment data in the morning, we also see the Bank of England inflation letter which details how they plan to combat the economic situation going forward and also BOE governor Mervyn King speaks - as the markets move on rumour as well as fact any hint of what he sees ahead or comments regarding the economy may cause volatility.
The U.S also have a flurry of data out over the course of the week so expect movements between these two currencies, the potential to break 1.70 again is certainly there...
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