May 31, 2024 – Written by John Cameron
Leave a comment STORY LINK Pound Sterling Resilient vs Euro Despite Firm US Dollar
The Pound to Dollar exchange rate (GBP/USD) steadily lost ground on Wednesday and dipped below the 1.2700 level with lows at 1.2680 on Thursday.
There was a recovery to 1.2715 in Europe and the Pound was broadly resilient given external headwinds.
The dollar posted significant gains, underpinned to an important extent by losses in Treasuries and higher bond yields.
Risk appetite was also less confident which sapped support for the UK currency….
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