Smart Daily Currency Note | Obama pushes interim deal to save US falling back into recession
GBP/USD – 1.6162
Sterling enjoyed a more positive day on Friday, recovering some of the losses seen earlier in the week. Despite Tuesdays bank holiday for New Year’s Day, there is quite a lot of data released this week including the influential Purchasing Managers’ Index (PMI) figures which come out from the manufacturing, construction and services sectors on consecutive days. We also have housing data, information on the supply of money and the net lending to individuals; furthermore, the Bank of England will release its findings from a survey regarding the current credit conditions in the UK. Trading volumes across the global markets will remain extremely low with bank holidays from different nations spread across the first 4 days of the week; so, expect volatility to remain high and price moves to be over-exaggerated. Call in now to speak to your trader.