Sterling Higher After Positive Economic Data

The sterling is higher in currency trading on the FX market today, thanks to the latest economic data. Positive economic data, including better than expected retail sales data for January, is helping the U.K. pound in forex trading.

Risk appetite is making a bit of a comeback as equities head higher and high beta currencies gain. Also seeing success against the U.S. dollar in forex trading are the Aussie and the euro. 

There are still some concerns about the speed of the economic recovery in Britain, but those are easing about. There are some expectations that the Bank of England will have no choice but to hike rates soon, and that is providing some fuel for the sterling in currency trading.

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