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GBP/USD Rebounds to Snap Two-Day Losing Streak

M. Ali 24 August, 2021 3:41 am Forex Market, Market Update

The British Pound (GBP) rose on Monday against the U.S. Dollar (USD) recovering some of its recent losses last week.

The GBP/USD pair gained 0.70% to reach 1.3722, in its biggest rise in a single session since July 9.

The Sterling was able to snap a two-session losing streak, but it remains lower for the month by 1.29%.

Last week, the pair registered a decline as the USD surged to its highest level in about nine months, after the latest Federal Reserve meeting minutes showed plans to cut asset purchases before the end of the year.

Recent data showed inflation in the United Kingdom eased lower than expected last month.

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