The GBP/USD pair witnessed some intraday selling on Monday, albeit attracted some dip-buying in the vicinity of the 1.4100 mark and finally settled nearly unchanged for the day. In the absence of any fresh fundamental developments, fears over the long-term impact of Brexit and the economic damage from the pandemic acted as a headwind for the British pound. That said, the optimistic outlook for the UK economy – amid the impressive pace of coronavirus vaccinations and the easing of lockdown measures – helped limit the downside. Read more…
Fed fuel as its limits – sterling is struggling to take advantage of dollar weakness and that may indicate an inability to reach higher ground. While EUR/USD has hit new highs, GBP/USD is lagging behind.
There are two reasons for the pound’s issues. First, Brexit refuses to die, and with it, the frictions around the Northern Ireland protocol. European Commission President Ursula von der Leyen stated there can be no changes to the agreement signed, angering London. Read more…
The GBP/USD pair spiked to fresh daily tops during the early European session, albeit struggled to find acceptance above the 1.4200 mark and quickly retreated around 30-35 pips in the last hour. The pair was last seen trading near the 1.4175-80 region, still up nearly 0.20% for the day.
The pair built on the previous day’s goodish intraday rebound from the vicinity of the 1.4100 mark and gained strong follow-through traction on Tuesday amid sustained US dollar selling bias. The White House pared down the infrastructure bill to $1.7 trillion from $2.25 trillion and eased fears about runaway inflation in the US. Read more…
