UK Pound Gets Small Boost Against US Dollar

UK pound is getting a small boost against the US dollar today, thanks to some support from the latest CBI sales data. While the help is rather small, it’s a little bit of a boost nonetheless. UK pound isn’t expected to make any big moves anytime soon against any currency.

The latest CBI sales data indicates an improvement for the month of May, and that is providing the pound with a little bit of help against the US dollar today. Overall, though, the economic data isn’t expected to have a huge impact on sterling’s performance. Additionally, speeches from two Bank of England members aren’t supposed to have much impact on the UK pound, either.

Instead, many Forex traders will be waiting for further indications of economic improvement, and there is a sense of waiting on the BOE for what’s next. Outgoing Bank of Canada head Mark Carney is expected to take over as governor soon, and many are waiting to see what effect his leadership has on BOE policy and the pound going forward.


At 14:45 GMT GBP/USD is up to 1.5121 from the open at 1.5040. EUR/GBP is a little bit higher, moving up to 0.8560 from the open at 0.8547. GBP/JPY is moving lower, down to 153.1320 from the open at 153.9350.