Odd things can happen at the end of the month- GBP/USD lifts above 1.34 again

Since the last update here, the dollar versus Europe has dropped back and that has seen the USD Index (USDX) fall back from earlier levels, as the EUR/USD hits session highs closer to that 1.12 handle again. At the same time, the Pound has reclaimed the 1.34 handle versus the dollar and that has been helped by some reasonably encouraging UK data this morning. The focal point on the is the latest business investment data, which has turned around in Q2. The question is can it continue to do so in the final 3 months of this year. We do not have the Q3 data yet either. The slip in the dollar has interestingly come even as European stocks fall back further from levels in place at the time of the last report here. The FTSE 100 has fallen back towards 8,275 and that has not been helped by the nudge higher in the GBP/USD right now. So, with today being the final trading session of the month and the quarter, there is still potential for some final month-end fixing orders and re-balancing to show up in the FX markets and that could have an impact on the Pound today. As to whether the GBP/USD can climb above the current 2024 high (1.3434) ahead of the month-end remains to be seen though. The Pound is currently trading at 1.3413