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GBP/USD Snaps Four-Session Losing Streak

M. Ali 22 June, 2021 1:34 am Forex Market, Market Update

The British Pound (GBP) rose on Monday against a retreating U.S. Dollar, after declining for four consecutive sessions.

Recent losses by the GBP/USD pair came mostly due to the surprising hawkish change in tone by the Federal Reserve, which prompted increased demand for the green back.

In addition, uncertainty on reopening in the UK continue to weigh on the Sterling.

The GBP/USD pair rose on Monday by 0.96% to reach 1.3935.

This marked the largest rise for the pair since May 10, nearly doubling its gains month-to-date to 1.96%.

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