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Short trading fuels UK focus
28 April 2014

Due to a short trading week last wee we saw most of the major currencies fairly quiet, whilst most traders expected a fairly positive week the pace was very slow. In the four days of currency trading that we saw the Pound struggled to move a half-cent against the Euro. The USD preforming is a similar way, despite a numerous amount of positive data from the likes of UK Retail Sales, most figures registered in as expected and the only other major positive was Eurozone PMI figures.

It must be taken on board that the Pound is seeing levels against many of the currencies, some of the best peak levels it has had in a while. Buying euros is now half a cent better off then two months ago and the USD is holding around half a cent of the best rates since 2009, a five year high for the currencies and some say a push will be needed to break this current ceiling.

Again we see a rush around this week as a minimal data set approaches. The major news being tomorrow with the UK GDP figures being released in the morning, in such a fashion it would be key to watch the levels via one of International Payments trained brokers who can help you along the buying process.

Later in the week, the focus shifts over to the US Dollar and investors will be watching closely how this gains new ground. 

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