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GBP/USD Rebounds from Two-Month Low

M. Ali 16 June, 2021 1:06 am Forex Market, Market Update

The British Pound (GBP) showed a mostly negative performance against the U.S. Dollar (USD) on Tuesday, ahead of the U.S. Federal Reserve’s interest decision and policy statement, which is due on Wednesday.

The GBP/USD pair reached its lowest level in about two months at 1.4034, after falling from a daily high of 1.4129, but rebounded as the USD erased some of its gains against major peers.

The pair is currently trading lower for the day by 0.19% at 1.4085.

With much anticipation for a full reopening in the UK with signs of economic recovery, especially in the job market, the decision to delay the return to normal is weighing on the Sterling.

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