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Pound To US Dollar Outlook: Exchange Rate Near Two-Month Best On UK Bank Holiday
GBP/USD closed last week at around $1.2735. The US Dollar (USD) edged higher on Monday following an influx of commentary from multiple Federal Reserve policymakers. Rate-setters struck a mostly hawkish consensus, indicating that they were not in a hurry to begin cutting interest rates. On Tuesday, thin trading conditions saw the ‘greenback’ move without a clear trajectory against most of its rivals ahead of further Fed commentary. In addition to this, a decline in US Treasury bond yields undermined USD. However, further rate-setter commentary later in the session served to offset the US Dollar’s downside amid ... (full story)