The GBP/USD exchange rate hovered around 1.25300, marking its highest point since early September. Despite gold surpassing the 2000 level, GBPUSD showed minimal fluctuations yesterday. The focus now turns to statements from Bank of England (BoE) policymakers regarding the policy outlook, which may influence the pair's movements in the short term.
In contrast, the UK's FTSE 100 index opened lower, showing a 0.5% decline. Concurrently, US stock futures turned negative during the relatively calm Asian session. Should safe-haven sentiments return later in the day, the US dollar might experience a reprieve from its downward pressure, potentially limiting the upside for GBP/USD.
The dollar's decline persisted on Tuesday, with traders anticipating the release of the Federal Reserve's October meeting minutes and US Existing Home Sales data. This trend follows Monday's market sentiment, where the USD index slipped below August lows, dropping below 104.00. The decline was exacerbated by US Treasury bond yields falling below 4.4%.
In contrast, the UK's FTSE 100 index opened lower, showing a 0.5% decline. Concurrently, US stock futures turned negative during the relatively calm Asian session. Should safe-haven sentiments return later in the day, the US dollar might experience a reprieve from its downward pressure, potentially limiting the upside for GBP/USD.
The dollar's decline persisted on Tuesday, with traders anticipating the release of the Federal Reserve's October meeting minutes and US Existing Home Sales data. This trend follows Monday's market sentiment, where the USD index slipped below August lows, dropping below 104.00. The decline was exacerbated by US Treasury bond yields falling below 4.4%.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.