On Friday British pound gained ground against the US dollar, as markets await the crucial report on Non-Farm Payrolls and Unemployment Rate from the United States. Some experts expressed opinions that the report will show US private sector added job posts at a slower pace than projected during May.
GBP/USD pair reached 1.5620 during late Asian trade, the session high for the moment, after which went on lower levels around 1.5590. Yesterday the sterling advanced by 1.3% against the US dollar, highest pace since August 2nd 2010, while on weekly basis the increase was 2.6%, the biggest gain since October 2009.
The pound received support on Thursday after Bank of England (BoE) decided to keep benchmark interest rate unchanged at 0.50% at its monthly meeting, in line with expectations. Additionally, BoE left the size of its asset purchases without change at 375 billion GBP.
Bloomberg reported that pound has gained 5.2% in the past three months, the best performer among the 10 developed-market currencies, tracked by Bloomberg Correlation-Weighted Indexes. The US dollar added 0.9%, while the euro advanced by 2.1%.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
