April 4, 2024 – Written by John Cameron
Leave a comment STORY LINK Why Pound Sterling Should Rise in April and then Fall in May
The Pound to Dollar exchange rate (GBP/USD)was unable to make any headway into the New York open, but received a significant boost after weaker-than-expected US business confidence data and strengthened to test the 1.2600 level.
Scotiabank noted the lack of progress earlier but added; “A move back above 1.2600 should see spot gains extend to the mid/upper 1.26s.”
Comments from Fed Chair Powell will be watched closely later…
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