//
According to Reuters, sterling gained against a weaker dollar partly due to the G20 agreeing to avoid competitive currency devaluations.
The news provider noted that traders saw this as a sign to go ahead and keep selling the dollar, bearing in mind that there could be further Federal Reserve monetary easing next week.
Paul Mackel, currency strategist at HSBC, said: "The GDP data is the main focus for sterling this week and if it disappoints the market will factor in a higher probability of more QE [Quantitative Easing]."
He added that the easiest way people can see what sterling is doing is comparing it to the euro.
Earlier today, the pound neared a seven-month low against the single currency continuing on from Thursday when it knocked through the 89 pence barrier.
Posted by Greg Secker
