Sterling continues to rise after yesterday's growth after the announcement of stronger-than-expected manufacturing PMI. Breaking the 1.60 level yesterday, he sped up. Now a key objective for the bulls may be the level of 1.63, and was last observed in early November. Night push was based on a report from NIESR, who predicted the three rate increases this year. It is worth noting that this prediction is based on the assumption that the government will not follow your plan for fiscal tightening monetary policy to provide more room for maneuver. But at this stage is only a few signs that it will be so on the part of fiscal policy. More important for the markets was the increase of production PMI to 62.0, thanks to the growth index of wholesale prices to the levels of 2008, and the purchase price - up to the highest in history. Market reaction rates was laying in quotes likelihood of policy tightening in July, in other words, levels that exceed what we saw after high data on CPI. Of course, reduces the risk that the first steps will be earlier this term, but until the government keeps its course, a series of promotions in the second half of the year looks less and less possible.
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