The Pound lost its pro-growth, pro-recovery edge in the middle of last week, perhaps because of the hawkish stance from the US Fed. Surprisingly the Pound has also failed to see support from news of positive UK manufacturing growth, perhaps because that news was offset by slack UK annual home price growth. Therefore we see the Pound to be in a normal back and fill corrective track, with support seen this week down at up-trend channel support line of 1.5382.
