European Session – Sterling rallies to 3-week high, oil falls after EIA data show rise in inventories
Posted on August 24, 2016 at 2:54 pm GMTSterling was one of the best performing major currencies today as it rose to a three-week high against the dollar, above the key $1.32 level to $1.3272. The pound has had a good week so far, having risen 1.3% versus the greenback, following a 1.2% gain last week. Recent upbeat UK data has been the main driver behind the British currency’s strength. Post-Brexit economic data have been coming in better-than-expected. On Tuesday, a CBI report showed orders for British manufacturing [..]