Source: ForexYard
Unexpected results went in favour of the British currency as the Pound reached a two-month high against the Euro. Financial reports showed that services growth increased in the previous month as well as house prices having the same outcome.
The British Pound also made gains against 16 of its currency counterparts today prior to the anticipated Bank of England’s Monetary Policy meeting which will be held tomorrow. The U.S Dollar was the one Majors holding its ground against the Sterling as the British currency weakened as a result of a decline in worldwide stocks pushing demand for the safe have Greenback.
The Sterling further extended its gains over the 17- nation currency after ECB President Mario Draghi claimed that the economic outlook remained subject to downside risks.
There are a number of key events on the economic calender for tomorrow including: the Bank of England’s Monetary Policy Meeting, U.S Initial Jobless Claims and the Canadian Ivey PMI
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