empty
 
 

2014.07.2104:33:27UTC+00Sterling recovers from 3-week plunge

The British pound sterling has recovered from a three-week plunge last Friday. It was trading at $1.7099, previously $1.7037.

"Overall, we still believe the euro is going to face more downside pressure. The chances are we're going to see more aggressive action from the ECB in coming months. We prefer selling the euro versus the yen and sterling," said Mitul Kotecha, Head of FX strategy at Barclays.

No major data will be released in Europe on Monday. Investors will focus on flash PMI reports due Thursday.

In Britain, Bank of England’s minutes of the July meeting, retail sales figures, and 2nd quarter gross domestic product report are due later in the week. 

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback