July 25, 2024 – Written by John Cameron
STORY LINK US Dollar Edges Lower as Biden Quits Presidential Election
GBP/USD Holds Above 1.2900
The Pound to Dollar (GBP/USD) exchange rate dipped to 1.2900 on Friday before a tentative recovery to 1.2925 on Monday as markets focussed on US politics and risk appetite improved slightly.
According to Scotiabank; “Gains back above 1.2950 resistance are needed to steady the short-term outlook for the pound.”
On Sunday evening, President Biden announced that he would withdraw from the November Presidential…
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