Sterling opens under the big 1.3000 versus the US Dollar. The currency pair also traded under this rate for the most of yesterday. Early in Tuesdays session, UK public sector net borrowing showed a red figure decreasing £23.4 billion to 48.7 billion in the financial year ending March 2017, compared with the financial year ending March 2016. The release was overshadowed however by the terrorist attack in Manchester, which was already weighing on the Pound yesterday morning. Cable did break 1.3000 however, after the US released new home sales figures, as March’s strongest selling pace in a decade saw a stumble in April – 611k expected and 569k actually realised. GBP/EUR 1.2985 – 09:30am.
The first key release for the currency pair gets released at 7pm tonight. The US FOMC meeting minutes will bring the latest from the recent meetings between the FED members, offering an in-depth insight into the economic and financial conditions. Any indicators on interest rate hike influences will be anticipated.