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May 2016

The Pound strengthened slightly

Published: Tuesday 10 May 2016

Today was a light day on the data front.
UK’s trade deficit for the first quarter is at its biggest since 2008. German Trade balance hit an all-time high in March although their industrial output slowed for March. The Pound strengthened slightly on the back of this.
In referendum news, Iain Duncan Smith attacked the leave campaign claiming The EU is a ‘force for social injustice’ that backs the rich and not the poor, and uncontrolled migration increased the cost of living.
Tonight we have RBNZ Governor Wheeler speaking and tomorrow UK’s Manufacturing Production and Crude oil levels.  A positive reading for our manufacturing could give the pound some much needed relief. 
Latest FX news by Joe De Berniere