GBP: Pound maintains position close to 2023 high

Another strong day for the pound yesterday saw it again challenging for its highest point against the euro since summer 2022, but falling slightly short.

Against the US dollar, sterling strengthened to its best position since early May. However, there are suggestions that this could be the high point for GBP/USD, based on technical analysis of the graphs.

Data this week has rather drifted to a standstill, and while next week we will have unemployment and GDP data, unlike the ECB and Fed there is no interest rate decision next week. The next Bank of England decision will be on 22nd June.

GBP/EUR past year

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