By TraderVox.com
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\u200bTradervox (Dublin) – The GBP\/USD cross was slightly down over last week, but positive reports from the UK have pushed the pair up to almost 1.60 level. UK inflation releases came just like the market had predicted with the CPI figures coming at exactly 3.5 percent as it had been predicted. The core CPI was slightly above the market prediction of 2.4 percent at 2.5 percent while the RPI was exactly predicted to come at 3.6 percent.<\/p>\n
\n\tThe HPI was also predicted correctly to come at 0.3 percent. Despite the cross dropping considerably to 1.5835 in the Asian market, it has bounced back and is now trading at 1.5963 after the MPC Meeting Minutes were released showing a voting pattern of 8-1 in favor of the current monetary policy just like it had been predicted. The bullish trend of the GBP\/USD is also supported by the Claimant Count Change that came lower than the 7k projected by the market. The figure came at 3.6k which is lower than the previous reading of 4.5k registering a new three month low.<\/p>\n
\n\tAnother positive report is expected on Friday. The UK Retail Sales report is expected to show an increase of 0.4 percent after the Retail Sales plummeted in March by 0.8 percent. The positive reports this week are expected to push the GBP\/USD up to above 1.60 level come next week. This week the pair opened the week at 1.5875 and came close to 1.60 level hitting 1.5984 in the last few days.<\/p>\n
\n\tThe GBP\/USD next week outlook remains bullish considering the comments by Standard and Poor’s to keep the AAA rating of UK saying that the effort made by the political institution shows that the economy can handle economic shocks amicably. Fundamentals from the UK are lending support to the sterling pound hence the cross might be shying off at 1.60 level next week and might close the month above this level.<\/p>\n
\n\tDisclaimer<\/strong><\/span><\/u> Article provided by TraderVox.com<\/a><\/u><\/strong> By TraderVox.com \u200bTradervox (Dublin) – The GBP\/USD cross was slightly down over last week, but positive reports from the UK have pushed the pair up to almost 1.60 level. UK inflation releases came just like the market had predicted with the CPI figures coming at exactly 3.5 percent as it had been predicted. The core CPI … <\/p>\n
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