"Perhaps this shows consumers are more confident over areas where they have more direct control. But pessimists will emphasise that the music is different when it comes to the General Economic Situation. Despite the tiny uptick this month, our confidence in economic matters, whether we look back or ahead 12 months, remains way below last year. Is it because the Brexit gremlins are hard at work? Almost certainly yes. How will that all change when the EU referendum has taken place on June 23rd? We all wish we knew the answer to that question.”
Sterling is currently being traded few points above 1.46t0 level. Pair is likely to find support around 1.47 handle and resistance above 1.4720 level. Later today, in the US session, Prelim GDP and Consumer Sentiment figures are scheduled for a release.
