The new week, month and quarter has started brightly for the U.S. dollar, with both the Brish pound/U.S. dollar (GBP/USD) currency pair and euro/U.S. dollar (EUR/USD) currency pair trading lower at the time of this writing.
The pound came under pressure following this morning’s publication of key UK economic data, although the losses were limited as Mark Carney, the Bank of England Governor, reiterated that an interest rate rise was on the horizon.
Investors who were anticipating that soaring inflation in the UK would convert some BoE doves were left slightly disappointed on Thursday after the MPC voted 7-2 in favour of keeping the rate unchanged.
After yesterday's stronger-than-expected CPI print, investors were wondering how UK wages had fared and whether more of the Bank of England's Monetary Policy Committee members would vote for a rate rise on Thursday.