British Pound Rallied Against The US Dollar
Forex traders at sites such as 4XP witnessed a week in which the British Pound Rallied Against The US Dollar and even in the wake of encouraging US job data the UK currency still managed to keep ahead of its Transatlantic counterpart.
As a growth of appetite for risk has returned to Forex markets across the globe the UK pound has been seen as a preferred currency. On Thursday the GBP/USD pair hit 1.5298, its highest price for two weeks. However, following the release of better than expected job figures the pair had fallen back to 1.5192 by the close of business on Friday but this was just a minor setback in a week which saw the pair rise by well over 200 pips from its rate at the start of trade on Monday, which was 1.4955.
The week ahead for Forex traders of the GBP/USD pair at 4XP and various other trading sites will see both the US and Britain release key economic data which will make waves for the Transatlantic pair. The US National Association of Realtor will announce a report on pending home sales, a purchasing managers’ index for non-manufacturing industry will be published and unemployment claims figures will be made available in the coming week. In the UK the Bank of England is due to announce its interest rate decision. News of this key economic decision will certainly be seen by Forex traders of the GBP/USD pair.
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