The Pound to Dollar pair has been rising steadily over recent weeks, reaching a year’s high of 1.3161 last Thursday.
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The US Dollar just can’t seem to catch a break - ahead of the weekend the world’s largest currency is being sold courtesy of some less-than-stellar economic growth numbers.
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The US Dollar continues to bleed value on global foreign exchange markets with fresh slippage coming in the wake of the US Federal Reserve’s July policy meeting and subsequent briefing.
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One of the key events we have been watching in global FX over the past 24 hours is how the Dollar would react to the latest machinations of the US Congress.
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Dollar buyers will want to see Trump win as this would communicate that he does have the ability to pass legislation and the prospect of lower taxes and increased public spending becomes a reality …
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The Pound to US Dollar continues rallying, its short-term uptrend extending ever higher with each higher high and higher low.
Read more … →The Dollar is at risk of weakening during the late summer as US political and geopolitical risks ratchet up, says Bank of America’s FX strategist David Woo.
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