Western Union quotes as follows:Sterling edged higher on Friday, paring its weekly decline, finding support in remarks from Britain’s central bank governor. Mark Carney weighed in on the U.K. interest rate outlook, indicating that once the bank alters rates they’re more likely to rise than fall. Nevertheless, the market remains profitable for GBP buyers with sterling keeping close to five-year lows. Going forward, expect the sterling bear to be well fed over coming weeks by the Britain’s record low level of inflation (zero) which has diminished expectations for a U.K. rate hike and political instability ahead of the early May vote. The coming week will be holiday-abbreviated and feature U.K. data Tuesday on revised fourth quarter growth and manufacturing the day after.
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