Pound gains from improved investor sentiment

British currency today reached a fresh several maxima, and dealers noted that the continuing upward movement and testing Ofer around $ 1.5160 to support reports that the index of consumer confidence Nationwide, published tomorrow at 03.01 Moscow time, after 41 points in March to April would be significantly above the average forecast Economists in paragraph 43 and of 50 points. Meanwhile, forces on the pound bulls today and gives a very positive dynamic FTSE 100, although with the opening bid at the Wall Street collapse, optimistic buyers diminished somewhat, and now the pound / dollar held near $ 1.5090, showing the correction below. Dealers noted that if the situation continue to deteriorate, bidy around $ 1.5070, likely to be overcome, which would open the way to $ 1.5045/40, and possibly even lower, but they are encouraged to draw attention to the fact that the technical picture of the pair in recent times continued to improve , suggesting the possibility of continuing recovery in the next few weeks. Currency strategists SEB, however, encouraged to draw attention to the fact that the position of the British currency in recent times, indeed, improved, despite weak data on the budget and GDP. The bank noted that economic statistics from the Misty Albion in recent times as a whole seemed less pessimistic in comparison to the expectations of most market participants that in the context of increased appetite for risk allowed to talk about the relative cheapness of British currency. Prospects for further development in the financial markets remain vague, but current conditions are quite favorable to the pound, and currency strategists SEB encouraged to draw attention to the fact that the demand for it has recently begun to re-present and long-term investors. Source: Forexpf.Ru - Forex Market News