GBPEUR/GBPUSD

Following on from last week, the Pound bounced back against the U.S Dollar for the first day in three days on Thursday, as an improvement in global risk appetite continued with oil prices reaching the highest level in over two years, reducing the demand for the Dollar as a haven. A lack of demand at the U.S Treasury auction also reduced demand for the U.S currency, which weakened from a near-four month high against the Pound.
The UK currency remained relatively unchanged against the Euro, trading around 1.16 for the majority of the session. The Pound found support close to $1.5350 against the Dollar and advanced strongly to a high above $1.55 later in the U.S session. The UK currency gained support primarily from a weaker Dollar, as fundamental confidence remains fragile. There was also some evidence of corporate year-end demand for Sterling with some increase in fund weightings.....read more