During Wednesday’s trading session, the Pound Sterling plunged by 61 pips or 0.43% against the US Dollar. The currency pair breached the 55-, 100- and 200- hour SMAs on Wednesday. Technical indicators suggest buying signals on the daily time-frame chart. Most likely, the GBP/USD exchange rate could edge higher during Thursday’s trading session. Read more…
The British Pound was among the best performers against the greenback, with GBP/USD hitting 1.4218 and settling a few pips below it. The pair rallied after BOE’s policymaker Gertjan Vlieghe said that the central bank could raise interest in the first half of the next year if the job market bounces back faster than expected. However, worth noting that Vlieghe’s term as an external MPC member expires in August and cannot be renewed. Read more…
Boris Johnson is unfit to be prime minister – that has been the message from Dominic Cummings, the former all-powerful aide to the PM. The political scandal surrounding the handling of the pandemic has been grabbing attention and also weighing on the pound. Thursday’s testimony from Secretary of State for Health Matt Hancock may also complicate matters for the government. Read more…
