The Pound rose against all major currencies this week as it drew a line under prior losses but BofA Global Research says it can still rise further against the Dollar, Euro, Japanese Yen and Swiss Franc up ahead.

Pound Sterling climbed against all major currencies except an outperforming Australian Dollar on Thursday after official data cast the UK economy in a resilient light for the second quarter.

Pound Sterling underperformed most other major currencies in early trade on Wednesday after a widely anticipated rebound in UK inflation underwhelmed expectations and services sector inflation fell back to a two-year low.

Pound Sterling rose against all major currencies in early trade on Tuesday, driven by a bid in GBP/EUR, after official data showed employment rising and the unemployment rate falling late in the second quarter.