The US dollar has slipped back against the pound sterling on the back of a slew of weaker-than-forecast data releases. GBP/USD is 0.33 pct higher 1.5286.

The Pound could strengthen further later in the session as analysts await the Bank of England's quarterly report of economic analysis and inflation projections.

Please Note: The above are quotes from the inter-bank market. When passing on their retail rates banks will ADD their own discretionary spread, driving up the cost of currency.

The British Pound has advanced against the majority of its peers after data showed that the nation's dominant services sector recorded its strongest rate of growth in April since last year's Olympic Games.

NB: The above quotes are taken from the wholesale markets - your bank will add their own discretionary spread to the figures when passing on their retail rate.

"GBPUSD's trek higher since March has stalled below 1.5600 in the last week, and needs to break above that level in the near term to maintain bullish momentum.

"The combination of previously stretched short-term valuations and economic data surprises hint that GBP's recent recovery has been driven by tactical position taking rather than long-term positions based on a perceived improvement in the UK's ...

The British Pound Sterling (Currency:GBP) is looking rather heavy this morning with a break below 1.18 against the pound looking distinctly possible.

The pound to euro exchange rate has recovered through the course of Friday trade to retake those impressive gains recorded yesterday - the exchange rate is now just 0.1 pct lower on last night's close at 1.1880.

"The current environment is poise for GBP, with better data prints, a quiet period before Mark Carney takes over as Governor of the BoE and broad based USD weakness.