Even though there was mixed data on UK retail sales, the bulls seems to have totally taken control of GBPUSD. Behind the strength of the British Pound, analysts point primarily to the comments made by BOE officials.

And despite the fact that there was a less bullish stance in the BoE minutes, it’s noted that we can count three UK policymakers who have stated an earlier increase in rates may be due. Obvously this is going to push GBP rate higher in the short term.

Across the channel, the Euro regained some ground against the Dollar, and seemed to stabilize around the $ 1.36 level. And is looking likely to finish the week on a recovery of circa 0.5%.

Stability is also needed against the yen, and the Swiss franc (+ 0.02% to 1.2169), the euro lost 0.13% against GBP.

The major monetary event of the week was the meeting of the Monetary Policy Committee of the Fed, which ended Wednesday night on an even tone, with a more dovish than expected outlook for interest rates.

Central banks are still trading, which results in monetary policy remaining ultra loose.