A pause in dollar buying provided some respite for the Pound to Dollar (GBP/USD) exchange rate, but it remains below 1.2500 and settled around 1.2450. According to Scotiabank; “Cable is struggling to push higher, even with the support of a correction in short-term RSI signals from oversold levels.” The dollar is being underpinned by expectations that the Federal Reserve will have to delay the first interest rate cut. A June move has almost been priced out while the chances of a July cut have dipped to near 40%. Although dollar sentiment remained firm, buying was hampered by concerns over the risk of intervention to ... (full story)