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GBP/USD Set for Turbulence

Yesterday’s high: $1.3222

Yesterday’s low: $1.3165

Hurricane Concerns Weigh on USD

The US Dollar made minor losses against the Pound yesterday, closing daily trading in the region of 1.3200. There wasn’t a great deal of domestic data to refer to, with economists mainly focusing on the possible fallout of Hurricane Irma.

The Pound also rose against the US Dollar despite unrest about a vote on the EU repeal bill, which aims to transfer EU laws into UK laws. The bill has attracted controversy because, in the eyes of some, it would allow the Westminster government to ‘grab’ powers from devolved administrations.

UK Inflation in Focus ahead of BoE Policy Meeting

The US jobs opening report is the only domestic ecostat on the calendar today.

The UK’s inflation report for August, due out shortly, is likely to have a much more significant impact on GBP/USD. Inflation is forecast to increase on the month and year. This data will be considered relative to Thursday’s Bank of England (BoE) policy meeting.

Key Events

12th September

09:30 UK Inflation Rate

15:00 US JOLTs Jobs Openings

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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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