September 29, 2024 – Written by John Cameron
Leave a comment STORY LINK Rampant Pound Takes a Break, GBP to EUR Rate at 2-Year Best
After a surge earlier in the week, the Pound was subjected to a correction on Wednesday, although overall sentiment held firm, especially with the dollar struggling as EUR/USD broke above the 1.12 level for the first time since July 2023.
The Pound to Euro (GBP/USD) exchange rate retreated to near 1.1960 from 2-year highs just above 1.2020 recorded on Tuesday.
1.20 will remain an important resistance area for the Pound.
Danske Bank noted…
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