The GBP did not enjoy its most productive week, losing ground against the Euro and US Dollar respectively. As August came to an end GBP posted its worst monthly loss since late 2016 and this continued into early September as the pound briefly slid to as low as 1.14991, a new low since March 2020 when COVID-19 hit markets. GBPUSD declined from a weekly high of 1.1757 to trade sub 1.15, a drop of 280 odd pips remaining on the fence of the key psychological 1.15 level. The losses came on the back of resurgent US Dollar buying as well as an ever-worsening economic outlook. The prospect of the pound hitting parity with ... (full story)