April 23, 2024 – Written by David Woodsmith
STORY LINK Pound to Dollar Rate Secures Net Gain to 1.2370
European currencies have recovered some ground on Tuesday with increased optimism that strength in services will lead to a rebound in the economy.
Equities have also posted net gains with the FTSE 100 index posting a record high at 8075 before a limited correction. Stronger equities should help underpin the Pound to some extent.
In this environment, the Pound to Dollar (GBP/USD) exchange rate found support above 5-month lows and secured a net gain to 1.2370.