June 5, 2024 – Written by John Cameron
STORY LINK Pound Sterling Unable to Hold 11-Week Best Rate Against US Dollar
The Pound to Dollar exchange rate (GBP/USD) briefly hit 11-week highs just below 1.2820 around Tuesday’s European open as the dollar index (DXY) retreated to 8-week lows and touched the 104.00 level.
The Pound failed to hold the gains and retreated to around 1.2780 as the dollar recovered ground against European currencies with DXY rallying to 104.20.
Weak US data could trigger a fresh GBP/USD attack on resistance above…
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