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The Pound Continues To Trample The Dollar

By Kathy Lien
12 May 2006 21:33 GMT

There are a variety of house price reports due for release in addition to consumer prices, leading indicators, unemployment, and retail sales.  The Bank of England will also be releasing their minutes from the central bank meeting held earlier this month.  With economic data already improving, it is possible that the minutes may be relatively hawkish.  Bank of England member Walton has already hinted to the markets that they believe growth is on path to reach its target and that the economy’s “recovery is established.”  If he is proved correct by next week’s reports, sterling bulls could burst above 1.90 and not even look back. 

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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12 May 2006 21:33 GMT