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 sterling has decreased against the US dollar in forex trading on Tuesday following today's United Kingdom fundamental data releases.

"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.

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.

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 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 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.

The pound to US dollar exchange rate is meanwhile flat - traders are apparently unable to make up their minds as to what today's events in Europe mean for this pair.

On a day in which we see the UK Indepence Party making themselves heard we should remind ourselves why it would be a self-inflicted injury of significant proportions were the UK to split from the Eurozone. This chart from Berenberg Bank tells a telling ...

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.