It has become very mixed recently no clear break out and no clear
sentiment can contain the market. It is well priced that there is no
interest rate cut this year in US.

The growth rates in EU and UK are also supporting the case that there are
the waited 2 .25% hikes in EU and UK this year are the same with no change
The interest rate differential is hard to move the market significantly in
the short term. It looks also that the growth has improved in US in the
second quarter after the weak growth data of the first one as last week
figures which has shown sustainable expansion in both of the manufacturing
sector and non-manufacturing sector also the jobs market was doing well
above expectations.

There can be a persisting of a side way of the pound versus the greenback
in the short term between 1.96 and 2
Yesterday, inflation figures in UK came lower than expected but not to the
extent that can refer to a change of the outlook over the coming few
months.

Best wishes

FX Consultant

http://www.fx-recommends.com