Ready to Get Started?
Start here. Join over 12M Libertex users around the world!
GBP/USD braced for the unknown
Many political commentators here in the UK have been at a loss to know what the new Prime Minister, Andy Burnham will do when he assumes office sometime between now and next Monday. There has been much speculation on taxes and policy and some insight from soon to be new PM himself, but of course nothing in terms of hard policy yet.
Last week the Pound stretched its gains versus what was a weaker dollar and it also continued to make progress versus the Euro, but that has all been dented by the rebound in the dollar earlier today. So, the GBP/USD reached 1.3451 on Friday and later managed to set a daily close above the 200 day moving average (only just though) we covered last week. The GBP/USD closed on Friday at 1.3404.
However, earlier this morning the GBP/USD slumped to 1.3367 and it has not yet recovered back above the 1.34 handle, but it is trying to right now. There will be much to add on this pair, as this week evolves. The GBP/USD is right now at 1.3394
Market News
All News-
Dollar gains prove short-lived- EUR/USD bounces back
Earlier this morning we noted how increased war risk had underpinned the dollar and how that had surely tripped stops below 1.1391 in the EUR/USD...
-
GBP/USD braced for the unknown
Many political commentators here in the UK have been at a loss to know what the new Prime Minister, Andy Burnham will do when he assumes office...
-
Nasdaq 100 futures still in a hole this morning
The launch of SK Hynix on the US market last week was not well greeted in Seoul today. The shares plunged more than 30%. That caused other AI and chip...