The Dollar was down for the count already Thursday but a steady death of the bond market could see investors bailing on it in earnest later this year, which would be a boon for Sterling and many other currencies, if the summer's choc-a-bloc schedule of risk cannot bring it back to life in a meaningful way.
The Pound-to-Dollar rate burned Wednesday as Brexit angst returned just as investors were reverting attention back to the upside, although a possible summer of discontent means Sterling might still be fool's gold even at current levels.
The Dollar was in comeback mode and rising against most of its major counterparts on Wednesday after President Donald Trump said a U.S. response to China's latest provocation in Hong-Kong is on the way and as protests in the city resulted in fresh clashes between authorities and demonstrators.
Written by James Skinner, Additional Contributions by Gary Howes
The Pound-to-Dollar rate surged Tuesday as the greenback hit the ropes and risk assets rallied in a market where investors continued to view the global economic glass a half-full rather near empty and analysts say this trigger-happy mood could endure over the coming days.
The Pound bounced tepidly last week but signals from the charts remain bearish while the political pressure cooker that otherwise stains the outlook has gone into overdrive and could prompt another move lower in the coming days.
The Pound-to-Dollar rate trod water Wednesday as Sterling underperformed in a major currency ripost against a wavering greenback, but could need a miracle if it's to avert fresh losses on the road ahead even it does find a new, lower trading range in the coming days.
The Dollar Index was down on its luck Tuesday although it could soon force President Donald Trump to eat last week's Dollar-friendly words if the nascent rebound in Sterling and the Euro comes undone and some forecasts for those European currencies are anything to go by.
The Pound-to-Dollar rate beat a hasty retreat last week that took it over the edge of a technical precipice in time for the Friday close, setting the British currency up for even further losses in the weeks ahead, although the scale of last week's decline and a nearby support level could see Sterling attempt to stabilise in the coming days.