Sterling reached fresh highs against the US dollar

Sterling jumped to 1.6577 against the US dollar on Friday with decreased liquidity in the market causing significant volatility. Data out this morning showed that house prices in the UK have climbed for the 11th month in a row, but this had little bearing on sterling’s relative strength. Manufacturing and Construction Purchasing Managers’ Index (PMI) released at the end of the week will be watched closely by investors and could cause volatility in the markets with decreased liquidity over the New Year celebrations. We also have some data out from the Bank of England on Friday which will show the net lending to individuals and will reveal a report highlighting the current credit conditions in the country. Call your trader now for a live update on the market