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30 May 2014
UK recovery keeps propping up the GBP - BTMU
FXStreet (Barcelona) -Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ, observes the sterling is getting support from the solid recovery in the UK.
Key Quotes
"The pound is rebounding modestly after correcting lower earlier this week supported by further evidence that the UK economy continues to improve.
"The GfK consumer confidence index rose out of negative territory for the first time since April 2005 which is a further positive for the outlook for consumer spending alongside still robust employment growth and the end of the squeeze on real incomes".
"The Hometrack house price index also increased by an annual rate of 6.1% in May."
Key Quotes
"The pound is rebounding modestly after correcting lower earlier this week supported by further evidence that the UK economy continues to improve.
"The GfK consumer confidence index rose out of negative territory for the first time since April 2005 which is a further positive for the outlook for consumer spending alongside still robust employment growth and the end of the squeeze on real incomes".
"The Hometrack house price index also increased by an annual rate of 6.1% in May."