esterday afternoon saw players sell the dollar against the majors as cable regained

This morning we saw positive UK data released which also gave the pound an extra lift against the greenback. Consumer prices index unexpectedly rose in November, missing the government’s official target for the eleventh month in a row.  This saw GBP/USD test the $1.59 level, but has now moved slightly lower but still trading at near three week highs.

As the euro also gained on dollar weakness, the pound has seen some weakness against its European counterpart as we have now broken below the 1.18 handle.