In broadly risk-off markets, the GBP/USD remains near to weekly lows. Investors are bracing for a Fed move that is earlier than expected. On Thursday, the foreign exchange markets have taken on a risk-off tone. The mood is weighing on currencies like Sterling, which has dropped to its lowest level versus the euro in over three weeks and is just a few pips away from the 1.3731 lows set in early July. GBP/USD is trading at 1.3777 at the time of writing, down 0.15 percent on the day after sliding from a high of 1.3805 to a low of 1.3741. Continue reading…
GBP/USD ended Thursday with slight losses around 1.3770, indicating that the British Pound remained under pressure. Due to a gloomy market environment and lower demand for the dollar, the pair was restricted to a narrow intraday range. In terms of data, the UK released the RICS Housing Price Balance, which rose to 83 percent in June, above market forecasts. Continue reading…
As COVID-19 instances, hospitalizations, and deaths continue to rise, doubts regarding the UK’s planned reopening on July 19 have persisted. Prime Minister Boris Johnson has 11 days to reconsider his position in light of the Delta variant’s rapid spread. The highly transmissible strain is spreading beyond the United Kingdom’s borders, with a spike in Spain and an increase in the United States. Continue reading…/n
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