The GBP/EUR saw fresh rallies to the 1.290 levels after Sterling witnessed a sudden bout of buying interest on the increase possibility of UK staying in the EU. The recent IPSOS poll revealed a clear lead of 55% to Remain in the EU as UK average earnings also revealed a 2% increase and unemployment rate steady at 5.1%.
The minutes from the April’s meeting of the US FOMC (interest rate committee) will be released this evening at 19:00 GMT and will be closely watched for indications of future US interest rate rises. With the odds of a June rate hike jumping from 4% to 15%, the tone and the timing will closely watched. July looks like a strong contender for an increase in US rates after their hike late last year.