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GBP/USD halts decline and reclaims 1.2600 amid UK’s holiday and hawkish Fed
The British Pound (GBP) stopped its free-fall on Monday against the US Dollar (USD) amidst a UK Summer Bank Holiday, which spurred choppy trading amongst most FX pairs during the overlap of the London-New York session. At the time of writing, the GBP/USD is trading at 1.2601, gaining 0.19%. The current week presents a busy US economic docket, contrary to the UK. On the latter, if not for a speech of the Bank of England (BoE) Chief Economist Huw Pill and the release of housing prices, the GBP/USD fate would lie mainly on the US Dollar dynamics. However, Monday’s price action was mainly driven by a risk-on impulse, ... (full story)