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Pound To US Dollar Rate Holds 1.28 On Labour Political Stability
Pound Sterling posted net gains in currency markets on Friday with the Pound to Dollar exchange rate (GBP/USD) hitting a fresh 3-Week best at 1.2815 before settling just below 1.2800. The overall run of US data has continued to suggest a weaker labour market and yields have declined, undermining dollar support. ING still sees the risk of a GBP/USD retreat to 1.25. Within Europe, the UK General Election has delivered a huge Labour Party majority and markets are tending to see this as a positive factor for the Pound due to expectations of a sustained period of political stability. UK stability is also in contrast to ... (full story)
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- Posted: Jul 8, 2024 2:40am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,731
