The British pound to US dollar exchange rate has edged higher as the USD comes under pressure in the current negative market conditions.
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Forecasts continue to favour the British pound (GBP) as investors continue to flood their money into the UK as the US dollar complex is weighed down by selling on the USD/JPY cross.
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US dollar (USD) exchange rates were carried higher in sympathy with an 80 pip climb against the Japanese yen (JPY) and the forecast is for further bullish action in the world's largest currency.
Read more … →Expectations that the Federal Reserve will continue to reduce stimulus, has fuelled a greater demand for the dollar preventing further advancement in cable and other crosses.
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US dollar exchange rates have enjoyed a period of strength over the course of the past 24 hours with analysts forecasting further gains for the dollar to come.
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The past 24 hours have been tough for the GBP/USD exchange rate pairing, however underlying technical strength could see the pound sterling rebound against the dollar.
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The US dollar (USD) is advancing in determined fashion against the British pound on Monday morning as traders holding long GBP positions are forced out of the market.
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