STERLING TESTS UPPER RESISTANCE AT 1.5577

The Pound has seen good price movement against the lower-yielding currencies like the Dollar and the Yen today, as the FTSE 350 Banks Index gained and the UK currency also withstood a cut in the UK economic growth forecast from the Ernst & Young LLP Item Club. There have been some suggestions that the surprising acceleration in UK gross domestic product in the second quarter will mark the peak of the economic recovery. On Friday, the preliminary estimate of GDP in the three months to June rose 1.1%, almost double …