“In addition to the annual budget, we have the U.K. employment report and the minutes from the most recent Bank of England monetary policy meeting scheduled for release,” Kathy Lien at BK Asset Management said in a Pound Sterling Live article. “Based on the PMIs, the labor market data should be strong and for the most part we do not anticipate a change in the central bank’s monetary policy bias because there has not been any major changes in the economy since the last meeting.”
ETF investors can track the pound sterling’s movements against the dollar through the CurrencyShares British Pound Sterling Trust (NYSEArca: FXB). FXB is based off a deposit account denominated in British pound sterling. FXB has gained 0.3% yea-to-date and is up 9.9% over the past year.
CurrencyShares British Pound Sterling Trust
For more information on the GBP, visit our British pound category.
Max Chen contributed to this article.