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Pound Eyes Data Hurdle Even as Geopolitical Risk Favors U.K.
The pound’s stellar run could prove vulnerable to data disappointments. Sterling rallied last week as Donald Trump’s tweets and the dovish account of the March European Central Bank meeting led investors to buy it against both the dollar and euro. This week, strategists say the pound could continue to benefit from global geopolitical tensions, although U.K. data may pull it in the opposite direction. “The pound is looking pretty good,” said Jane Foley, head of currency strategy at Rabobank. “But it has to get through the U.K. earnings and CPI data in the coming sessions. These are perhaps the most important ... (full story)