Britain’s Pound Steady During Holiday Trading

The Great Britain pound was little changed during the slow holiday trading after falling against the dollar and rising versus the euro yesterday.

This week’s macroeconomic data was relatively helpful to the currency, with consumer price inflation being stable above the central bank’s target and wage inflation also being steady. The fact that markets focused on other regions of the world and troubles their also helped the sterling, diverting the traders’ attention from the issue of the Brexit. Still, the question whether the Brexit will be “hard” or “soft” will likely be the driving force for the currency in the near future.

GBP/USD traded at 1.2509 as of 10:57 GMT today after falling from 1.2525 to 1.2502 yesterday. EUR/GBP traded at about 0.8489 during the current trading session following the decline from 0.8502 to 0.8486 during the previous session.

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