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GBP/USD back on the rise

Arron Morris Currency Broker - Sterling still under pressure.Written by
Arron Morris
Senior Currency Broker
T: 01442 892 065

The past twenty-four hours have seen the GBP/USD cross rise over one per cent, with the currency pair climbing from $1.2812 to $1.2948 at the time of writing.

Some positive economic data from the UK gave the pound a much needed boost following the decline we witnessed on Tuesday, while the dollar came under pressure during Fed Chair Yellens testimony in front of Congress yesterday afternoon, after she failed to inspire markets about potential interest rate hikes. EUR/USD has edged away from the 14 month high we witnessed yesterday but the cross is still trading around $1.1450 this morning.

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To keep up to date with the US dollar, visit our USD blog section on our website here.

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Arron Morris
Senior Currency Broker
T: 01442 892 065

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