FXstreet.com (Córdoba) - Despite posting a decline against the Dollar, the Pound is among the best performers of the day. GBP/USD fell from 1.6300 to 1.6195 (intra-day low). But the pair was able to get back above 1.6200 and currently trades at 1.6247/50, 0.18% below today's opening price, a smaller decline than most currencies against the Dollar so far.
Against the Euro, the Pound rose to a two week high. EUR/GBP tumbled to 0.8979 reaching the lowest price since November 25. Currently the pair trades at 0.8987/0.9000, 0.57% below today's opening price.
The FastBrokers Research Team affirms: Sterling investors are awaiting Tuesday's CPI and RPI releases. If Britain's CPI and RPI also print below expectations, the Pound's relative strength may fade since investors could speculate that the BoE will be less eager to tighten its aggressive liquidity measures.