Sterling and Euro were top bottom London Session Friday, as Yen edged higher, before giving back gains. PMI reports for the Euro Zone and its top economies were released during the session. GBPUSD edged lower, EURUSD edged lower and USDJPY retreated.
Weak US Data dominated the Wall Street Session.Manufacturing activity in Philadelphia rose slower-than-expected in April. U.S. jobless benefits rose slightly more than expected. Treasury Secretary Steven Mnuchin’s comments on tax reform, together with strong earnings reports from US Companies, boosted Indices across board.
The Sterling had a good run last week’s swing trade. Theresa May’s call for early elections was largely responsible. Following the surge, the Sterling spent the rest of the week trading sideways.