GBP/USD has flattened overnight after its strongest rally in a month on Thursday. The British currency has been under pressure recently as an energy crisis has caused a number of gas providers to go bankrupt, but the hawkish tone from the Bank of England sparked some optimism into the Pound pushing GBP/USD above recent resistance at 1.3720, with Dave Ramsden and Michael Saunders, two of the Monetary Policy Committee (MPC) members, voting for an early end to the pandemic stimulus.
GBP/USD Da
The dollar sits at a one-month high as the FOMC prepares to meet, with a possible announcement on tapering expected.
Source: Bloomberg
Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 20 September 2021. IG