Sterling today has pushed close to 1.1550, the highest level against the single currency since June 2017. This has now seen sterling’s recent rally up close to 2% in the month of April, a pretty good run and maybe an opportunity to take advantage?
Although sterling seems to be on a slight upturn against the Euro similar trends are not being seen elsewhere suggesting the run may have been caused by euro weakness as opposed to any sterling strength. This week has actually been quite poor in terms of UK data so it is difficult to pinpoint exactly why the pound has rallied. This to me highlights how volatile this market is currently with markets often reacting in the exact opposite way to what you would expect.
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