020 7898 0500Just before the UK market broke up for the Easter Bank Holidays, sterling found itself at a multi-week high following a week of mixed data releases. Sterling’s gain was largely due to US President Donald Trump’s interview with the Wall Street Journal. In it he suggested that the US dollar was too strong and that he favoured lower interest rates – which pushed the dollar down.
Other reasons for the pound’s jump included the release of UK employment data, which was better than expected, and concerns in the Eurozone regarding the forthcoming French Presidential elections.
It remains to be seen whether Trump will say more to boost the pound further but there’s no doubt that the results of the first round of the French elections this coming Sunday will have some impact.
