Sterling made steady gains on most key cross on Friday, appearing nonchalant in its reaction to disappointing UK economic growth data out mid-morning.
Crude-oil futures are higher on Friday as traders liked reports Russia has complied with Opec output limits, and also on hopes the cartel will extend its production cut pledge.
Sterling sailed higher on most key crosses Thursday as investors liked the currency after pleasing UK retail data, European Central Bank holding interest rates and last night's US tax-reform disappointment.
Crude-oil futures slumped more than 2% on Thursday afternoon as a report said two key oilfields in Libya have resumed pumping against a backdrop of rising US shale output and the now chronic global glut.
Sterling enjoyed a relatively rosy day on most key crosses, but fell against a resurgent US dollar ahead of US President Donald Trump outlining his proposed tax reforms later on Wednesday.
Crude futures bounced off earlier lows on Wednesday afternoon as US Energy Information Administration (EIA) data showed a surprise fall in inventories last week.
Sterling held up relatively well on Tuesday -- up on the dollar but down on the euro -- as the market looks to the European Central Bank's rate decision later in the week, US tax reforms tomorrow and a stack of other economic data due on both sides of the Atlantic.
Sterling had a tough time on major crosses, tumbling against a resurgent euro after centrist and pro-EU candidate Emmanuel Macron won the first round of France's presidential election.
The price of gold was markedly lower on Monday afternoon as investors reacted with ecstasy to centrist and pro-EU candidate Emmanuel Macron winning the first round of France's presidential election.
Friday saw the pound weaken a tad against the dollar but flirt closer to the 1.2 euro level that has been playing hard to get since June, with the single currency also on the backfoot against the greenback although it too ended higher for the week.
Crude oil futures were in a funk again heading into the weekend, amid 'market chatter' around declining demand and concerns that Russia might yet scupper a deal by the world's largest oil producers to continue reining in their production.
Talk that Labour might push for personal income tax hikes in the upcoming general elections and combative language from Jeremy Corbyn gave the pound a fillip.
Cable fell prey to profit-taking on Wednesday as traders pondered the next move in the pair, alongside remarks from rate-setters on both sides of the Atlantic which highlighted the policy divide between the US Federal Reserve and the European Central Bank.
A rebound in prices for some industrial metals, in the energy space and for soft commodities helped buoy the wider complex on Wednesday.
Sterling shot higher as analysts said snap elections increased the chances that the UK would not crash out of the European Union, thus helping Westminster clinch a more benign outcome for the economy.
Commodities dropped as traders made their way back to the City following the Easter break, with analysts focused on the prospect for lower Chinese steel demand going forward.
Sterling turned in a poor performance on a raft of key crosses ahead of the long Easter weekend, with US President Donald Trump earlier jawboning the US dollar down after saying he believed it was too strong.
Gold is ahead as investors temporarily forgot UK Prime Minister Theresa May's would-be Brexit wonderland and bolted down a rabbit hole on Thursday in search of safety thanks to a proliferation of geopolitical concerns.
Sterling drifted to a mildly positive performances against the US dollar and euro on Wednesday afternoon, but was otherwise mixed on other key crosses in a shortened week of trading ahead of the Easter break.
Sterling was stronger on Tuesday after a "content enough" reaction to UK inflation data was followed by a distinct spike higher after tweet action by US President Donald Trump saw US-North Korea tensions heighten.