GBP/USD to Face Relief Rally on Upbeat U.K. PMI, Dovish Fed Rhetoric

With second-tier data on tap for the week ahead, the British Pound may continue to consolidate ahead of the next Bank of England (BoE) interest-rate decision on April 14, but fresh rhetoric from Fed officials may generate a near-term rebound in GBP/USD as Chair Janet Yellen endorses a more dovish outlook for monetary policy. A pickup in the U.K. Purchasing Manager Indices may boost the appeal of the sterling and highlight an improved outlook for the region following the unexpected upward revision in the 4Q Gross Domestic Product (GDP) report. With the economy posting an annualized 2.1% rate of growth during the ... READ MORE