Investor sentiment improved on Friday and caused the British currency to strengthen against most major peers.
Energy prices spent the last day of the previous week in a confident uptrend, given largely optimistic US stockpiles' reports and on the back of analysts' views the turbulence in global markets has practically come to an end.
The Euro eased from peaks it had reached back on March 10 when the ECB President Mario Draghi said the central bank seems to be done with interest rate decreases for now.
The Sterling had another day of relatively good performance, with exception against the Swissie and the Euro.
This time the US Dollar's performance was not formidable as before, with the Buck declining against most major peers on Thursday.
Mario Draghi, the European Central Bank's president, made an announcement that the regulator is unlikely to cut interest rates further in the nearest future, albeit not completely ruling out such a possibility.
Decisions taken by the European Central Bank on Thursday have probably confused nobody but traders in the FX market.
The US Dollar's performance on Wednesday was quite similar to the Sterling's.
The UK Manufacturing and Industrial Production data had a mild effect on the British currency, with the Sterling crosses mostly inching a few pips higher.
Oil prices have erased all Tuesday losses and rallied by almost 5% for the American-made Crude and by 3.58% for the European-traded Brent.
The Reserve Bank of New Zealand made an unexpected decision to cut the benchmark interest rate by 25 basis points to 2.25% at its meeting yesterday.
On Tuesday the US Dollar managed to outperform most major currencies, with exception against the Japanese Yen.
With another relatively quiet day, the British currency did not experience significant gains or losses.
Traders have used the opportunity to reconsider their bullish stance on oil prices in the wake of the recent agreement between Russia and OPEC countries on the matter of production freeze at January levels. Oil took a leg down and posted a daily decrease of 2.9-3.7% depending on the origin.
The Euro was considerably down only against its Japanese peer on Tuesday, as EUR/JPY dropped by 0.75% and was driven by safe-haven needs on the back of sluggish trade balance data from China.
The Sterling started the week with relatively good performance against most of other major currencies.
With another day of disappointing data and Friday's wage figures continuing to weigh on the US currency, losses were seen all over the market.
While on Friday there was one commodity (gold), which registered a loss in prices, on Monday every single component from our daily review managed to fix a green candle.
The Euro's best-performing currency pair was the one against the Kiwi on Monday, as it added 0.32%. Manufacturing sales in New Zealand dropped in the last quarter of 2015 after an advance that had been booked a quarter before.
In spite of a strong reading of the US NFP data, the Greenback declined against most major peers, with exception against the Swissie and the Yen.
The British currency experienced mixed performance on Friday and over the weekend, mostly sustaining losses against commodity-based currencies.
All commodities except gold posted a considerable increase in prices on March 4. The bullion was seen under bearish pressure amid a return of risky sentiment.
Friday brought us a very limited set of economic data; however, all available statistics was important enough in order to move markets throughout the last day of the previous week.
Another set of weak fundamental data caused the Greenback to sustain losses against most of other major currencies yesterday.