The British pound appreciated vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5295 level and was supported around the $1.5170 level. Bank of England issued its first quarter credit conditions survey today in which it reported U.K. mortgage demand may rise in the second quarter. Data released in the U.K. today saw March PMI manufacturing print at 57.2, up from the revised prior reading of 56.5. Cable bids are cited around the US$ 1.4455 level. The euro moved lower vis-à-vis the British pound as the single currency tested bids around the £0.8840 level and was capped around the £0.8900 figure.
Join the Discussion