Pound Sterling turns upside down against its peers
The Pound Sterling (GBP) gives back early gains against the US Dollar (USD) and drops to near 1.3520 during the European trading session on Tuesday. The GBP/USD pair falls back as the US Dollar recovers its early losses.
As of writing, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, trades mildly higher to near 98.45. Read more…
GBP/USD: Likely to test 1.3560 before levelling off – UOB Group
There is a chance for the sharp rise in Pound Sterling (GBP) to test 1.3560 before levelling off; 1.3590 is not expected to come into view today. In the longer run, GBP could rise to 1.3590; the odds of a continued rise above this level are not high, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Read more…
USD pulls back as risk-on mood boosts GBP – OCBC
The safe haven US Dollar (USD) lost ground after an early firm start, tracking the broader risk-on mood, while Pound Sterling (GBP) outperformed G10 peers overnight, OCBC’s FX analysts Sim Moh Siong and Christopher Wong note. Read more…