February 12, 2024 – Written by David Woodsmith
STORY LINK Pound to Dollar: High Inflation Print Unlikely to Support Sterling
US Dollar and Pound Strangled Ahead of Key Inflation Releases, GBP/USD Exchange Rate Holds Above 1.2600
The Pound to Dollar (GBP/USD) exchange rate was unable to hold a brief move above the 1.2650 level on Monday and drifted lower to 1.2615 after the New York open.
Position adjustment was a key element ahead of the US and UK data releases this week.
According to Scotiabank; “the potential for the…
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