The Great Britain pound rose today as inflation remained above the central bank’s target, reducing probability of additional monetary easing by the Bank of England.

UK pound is moving higher against the US dollar today. The British currency is also seeing gains against the Canadian dollar. However, even though UK pound is getting a boost for now, the future of the sterling might not be so rosy.

The Great Britain pound was rallying recently following weakness in the first half of March. Is the rally sustainable or it is just a pause before a drop to new lows? Analysts have mixed view on this matter.

UK pound is mostly lower today, thanks in large part to economic weakness. Economic reports point to continued difficulties in the United Kingdom, and that is leading to expectations of more easing — and continued weakness for the pound.

The Japanese yen demonstrated huge losses this week, dropping to multi-year lows (it fell to the lowest since 2008 against some currencies), as the Bank of Japan pursued aggressive quantitative easing.

The Great Britain pound jumped today after the Bank of England kept the monetary policy unchanged and the service industries expanded with faster pace than was anticipated by analysts.

While the FX market doesn’t close for holidays, equity markets in the United States and Europe are closed for Good Friday, and that is affecting volume. UK pound is mostly steady against its major counterparts as traders assess the situation from the last two weeks and get set for a new week and a new month.

The UK pound can’t seem to gain the upper hand against the euro today, even though the eurozone remains in turmoil. Even with the difficulties being caused by Cyprus, euro still has the advantage over the pound.

The US dollar is set to end the week lower, in spite of showing strength earlier. Forex traders and investors waiting to see what the final outcome of the situation in Cyprus is, along with what happens in other areas of the world. So far, the news has led to cautious optimism, and the greenback hasn’t been needed as a safe haven.

Tomorrow, George Osborne, the Chancellor of the Exchequer in the United Kingdom, is set to release his latest budget. The result has been mixed for the UK pound for now, but many expect that more weakness is probably ahead for the sterling.