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GBP/USD Rate near 3-Week Low as Fears for Nuclear Conflict Grow

Yesterday’s high: $1.3020

Yesterday’s low: $1.2972

Trump Comments Cause US Dollar Movement

Yesterday saw anxiety among currency traders rise as they were confronted with an escalation of the conflict between the United States and North Korea. The US Dollar gradually advanced on the Pound during the day as demand for safe-haven currencies increased. Donald Trump promised swift retaliation against North Korean nuclear aggression, the regime government broadcasted a plan to attack the US Pacific territory of Guam.

USD Outlook: Fed Speeches and Inflation Stats Ahead

Today could see the US Dollar weaken against the Pound if Federal Reserve official William Dudley gives a cautious speech. Dudley will be speaking this afternoon but is considered to be a dovish policymaker. On Friday, the US Dollar could appreciate if inflation has risen in July.

GBP/USD could also fluctuate in response to today’s national trade balance and production data. A deficit expansion is forecast, but the Pound may still rise if higher production levels are reported.

Key Events

10th August

09:30 UK Trade Balance

09:30 UK Industrial and Manufacturing Production

15:00 US Fed Dudley Speech

11th August

13:30 US Inflation Rate

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To keep up to date with the US Dollar, visit the USD blog in our Currency News section.

Arron Morris

Senior Currency Broker
T: 01442 892 065

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