As expected, the British Pound continued its strong surge towards the 1.4000 mark, marking yet another milestone as the positive feelers from the Brexit negotiations continues to give the Cable some tailwind. After reaching session highs of 1.3888, the British Pound declined slightly due to weak retail sales data. However, it still ended the week much higher than it started it.
The British Pound is expected to continue its bullish run against the US Dollar, coming on the back of weak USD sentiment. However, some major data will be released this week. First is the Average Earnings Index on Wednesday, followed by the Preliminary GDP figures on Friday. The GDP report is not likely to affect sentiment within the week but could determine how the British Pound ends the week and begins the week after.
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