SUBSCRIBE TO FEEDRisk rally on the currency market
The U.K. pound has moved on to the 1.56 level in currency trading on the FX market. As a result of help from the risk rally on the currency market, sterling has hit a 5-month high.
Bank of England officials have appeared before Parliament, and have assumed a more hawkish stance on the British economy. Committee members were mostly upbeat in their testimony, expressing cautious optimism, and forex traders responded by sending the sterling higher in forex trading.
The good news might be overruled, though, with concerns about durable goods orders in the U.S. So far the risk rally remains mostly intact, but concerns about the sluggish economic growth could result in its coming to an end.
See AlsoSterling in Forex TradingCurrency trading on the FX market
