October 25, 2024 – Written by Frank Davies
STORY LINK Pound Sterling: UK Data Damages GBP/USD Rally Attempt from 10-Week Lows
The Pound to Dollar (GBP/USD) exchange rate dipped sharply to 10-week lows just above 1.2900 on Wednesday before a tentative recovery to 1.2955.
Weaker than expected UK business confidence data hampered the Pound, but the dollar retreated from 10-week highs amid a decline in US yields which provided some GBP/USD respite.
UK yields also moved higher as markets contemplated a shift in…
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