GBP confined to a $1.40-$1.42 range - BBH

Since the ides of March, sterling has been mostly confined to a $1.40-$1.42 range, notes the research team at BBH. 

Key Quotes

“It threatened to break out to the downside on April 5 with a low near $1.3965 but was saved by the escalation of trade tensions with Trump's threat to retaliate against China's retaliation. If the broader dollar weakness helped stabilize sterling, it was not sufficient to convincingly push it through the nearby ceiling near $1.4100.”