Despite further dollar strength, the GBP/USD has continued to fall. Sterling is being weighed down by weak UK statistics and uncertainty around the Delta variation. The four-hour chart for Thursday shows that cable is approaching crucial support. A new month, a new blow to sterling: Markit’s UK Manufacturing Purchasing Managers’ Index for June was reduced to 64.9 points from 64.2, adding to the pound’s already-existing pressure. Continue reading…
The pound fell across the board on Thursday after outperforming on Wednesday. The combination of a weak pound and a strong dollar pushed the GBP/USD rate to new monthly lows near 1.3750. Even as US yields remain stable and risk appetite is high, the dollar continues to shine. The US employment report on Friday will be a litmus test for the dollar’s current rally. Continue reading…
The GBP/USD pair’s recovery was short-lived, as after failing to hold above 1.3800, it fell to 1.3760, its lowest level since mid-April. Under pressure, it holds near the lows. Ahead of Friday’s non-farm payrolls announcement, the US dollar stays strong in the market. The DXY is currently trading at its highest level in months, near 92.50. At the same time, the pound is one of the poorest performers on Thursday, according to Bank of England Governor Andrew Bailey’s earlier comments. Continue reading…/n
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