GBP/USD firm on the face of it, above 1.3800 - Scotiabank

Analysts at Scotiabank explained that GBP/USD is firm on the face of it, reaching the 1.38 level for the first time since Brexit earlier. 

Key Quotes:

"But gains are mostly reflecting the rise in EUR/USD in our opinion. EUR/GBP remains slightly better bid overall."

"Rightmove house price data showed prices gaining 0.7% this month and 1.1% in the year, up from 1.0% in Dec which was the slowest pace of appreciation since 2012 – better, but nothing to shout about, in other words."

"Focus remains on Brexit, with the UK government suggesting that formal transition talks will start at the end of the month."