GBP on a stronger footing – BBH

Constructive developments from on Brexit negotiations, a robust labor report and stronger than expected retail sales sent sterling higher, points out Marc Chandler, Global Head of Currency Strategy at BBH. 

Key Quotes

“The market is a bit more confident that the Bank of England will hike rates in May.  Sterling was the second strongest currency with a 1.35% advance (trailed the Canadian dollar 1.55% rise).  Sterling has appreciated for three consecutive weeks and finished last week with a 0.25% advance.  There is little from a technical perspective that stands in the way of a return of the high set in late January near $1.4350, and beyond that is the $1.4500 area.”