Market Research: GBP

Source: Dukascopy Bank SA
Sterling index was one of the five gainers during the last five trading days, even though the currency posted the smallest gain, adding only 0.11% of its base value. Fundamental news pushed the index higher only on March 19 and 25 as both statistics from the labour market and consumer prices surprised markets to the upside. After receiving a strong bullish bias from the MPC votes, claimant count change and average earnings figures, the GBP index hit 100.63 on March 20. However, later a lack of fundamental data from the U.K. on Thursday and a higher-than-expected budget deficit released on Friday dragged the currency back to its base value. 

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