Mid-Week sees the turning of the month, and with it the market-churning flow of foreign exchange as investors rebalance their portfolios.
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The Pound is stuck right int he middle of the recent range it has traded against the US Dollar since the beginning of February.
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Analysts at Lloyds Bank’s Commercial Banking devision have told clients they believe investors are starting to shift opinion on the Pound.
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The US Dollar has given back some of the gains it enjoyed earlier in the day after two noted data releases came in below expectation.
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“While prices remain trapped in their current range, we are getting to a window of opportunity for a breakout to develop, so we are watching price action closely today," says Lloyd’s Bank’s Robin W…
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The currency markets remain without direction and there is little by way of trends to be found in the short-term.
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In a contrast to the general view that the Dollar is going to continue rising and that the Pound is doomed, Nordea Markets' Aurelijia Augulyte is retaining a bullish GBP/USD stance.
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