The British pound initially fell during the month, but as you can see it has been rather resilient. This was especially true during the last week of January, as the Bank of England chose not to cut interest rates. This of course is good for a currency when the interest rate stay stable, and during the same week we also have the Federal Reserve suggest that perhaps they may have to cut interest rates down the road or at least were open to it. That being the case, the market favors the British pound and close that the very top of the range for the week. That of course is a very bullish sign, and now it looks like the … (full story)
