The British Pound is trading on either side of 1.2100 against the US dollar, buoyed by better-than-expected data this week. While the US dollar is also strong, supported by rising US Treasury yields, Sterling is making gains against its counterpart across the Atlantic and a wide range of other G7 currencies. The latest UK PMIs beat forecasts and showed business activity in the UK, especially in the services sector, picking up sharply in February, while the latest look at the government books showed public sector net borrowing (PSNB) boosted by better-than-expected tax receipts and in surplus in January.
