GBP: Staying supported for now– ING

Pound Sterling (GBP) is staying relatively supported, particularly against the US Dollar (USD), ING's FX analyst Chris Turner notes.

Above 1.3525 opens up 1.3600 for Cable

"In terms of the local sterling story this week, we are due to hear from quite a few Bank of England policymakers, especially at tomorrow's Treasury Committee meeting. Also this morning, we've just seen some better house price data for May – potentially an area of support for the UK economy as interest rates get cut. We look for two further 25bp rate cuts this year."

"Above 1.3525 opens up 1.3600 for Cable."