Quotes from Western Union:- Sterling treaded water above $1.60, despite a growing chorus of U.K. central bankers making the case for keeping rates pinned down for longer. The pound continued to nurse a generally fragile bias after slumping two weeks ago below the key $1.60 level to its lowest level in nearly a year. – Both the Fed and the dollar taking center stage this week have dimmed the spotlight on sterling. Meaningful upside for sterling, based on its own fundamental merit, should remain a challenge for the foreseeable future, with both wage growth and inflation subdued and risks from faltering growth in the euro zone, a key trade partner.
The material has been provided by InstaForex Company – www.instaforex.com