GBP review: Western Union

The pound has opened lower against the US dollar but has gained on a trade-weighted basis before UK Prime Minister David Cameron prepares to dissolve parliament today. 

GBP/USD touched 1.4803 this morning having traded as high as 1.4993 last week. The pound struggled to hold those gains after a zero percent UK inflation rate pointed to low UK interest rates for longer. 

The latest opinion polls after last week's TV interviews show a rise in support for the Labour Party but in his interview around mid-day today, Labour leader Ed Miliband may share his worrying plan to tax big businesses more. Wednesday's UK manufacturing PMI should underline Britain's positive economic growth outlook.