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GBP Trading Outlook (06-04-2011)

The Sterling (GBP) finally played catch-up with the rest of the market soaring across the board. GBP/JPY surged over 300 pips above Y139 after hitting lows below Y125 in recent weeks. The market reversed on the EUR/GBP and GBP/USD pushed to 1.6300. Overall the GBP/USD traded with a low of 1.6089 and a high of 1.6308 before closing the day at 1.6300 in the New York session. Looking ahead, March UK House Prices forecast at 0.2% vs. -0.9% previously.

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