Open Demo Account
Home / Market Update / Sterling Settles Below Mid-1.2500s

Sterling Settles Below Mid-1.2500s

Adel 8 July, 2020 6:05 pm Market Update

Sterling saw both-way movements on Wednesday, but it appears that it has now settled in the neutral territory 1.2540-35.

After an early rally to 1.2565-70 region, the pair experienced a slight decline during the European session and was affected by buying around USD.

The increasing number of Covid-19 cases provided safe-haven flows and helped the dollar achieve gains. Covid-19 is one of the most important factors that have put pressure on the GBP/USD pair.

The pound received a slight boost after the government’s decision to protect jobs and pledged to provide 30B support that includes a startup of 2B pound to provide more job opportunities for young people.

Tags

Check Also

U.S. to Send Letters Outlining Tariff Rates Ahead of July 9 Deadline

U.S. President Donald Trump confirmed on Thursday that the U.S. will begin sending out letters …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends