Pound Firm During Tuesday’s Trading

The Great Britain pound was relatively firm during the Tuesday’s trading session. Analysts offer various explanations for the currency’s good performance.
Some experts speculated that short sellers were taking profits after the huge slump that followed the Brexit announcement. Other specialists said that the recent string of positive macroeconomic indicators suggested that Britain’s economy remains resilient, discouraging market participants from excessive bearishness on the UK currency. Talking about economic data, Confederation of British Industry will release the Industrial Trends Survey at 10:00 GMT today, and analysts predict the survey would show worsening of the indicator.
GBP/USD rose from 1.3136 to 1.3199 as of 8:47 GMT today, trading near the highest level since August 4. GBP/JPY edged up from 131.76 to 132.14.

If you have any questions, comments or opinions regarding the Great Britain Pound,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *