GBP/USD eases from multi-month top amid modest USD bounce, downside seems limited – by hareshmenghani GBPUSD Recession Fed Bonds Currencies
une 2022 touched this Thursday. Spot prices drop back closer to the daily low during the early European session and currently trade just above mid-1.2500s, nearly unchanged for the day.
Apart from this, rising bets for another 25 bps rate hike by the Bank of England might continue to underpin the British Pound and contribute to limiting the downside for the GBP/USD pair. Traders, however, might refrain from placing aggressive directional bets and prefer to move to the sidelines ahead of the closely-watched US monthly employment details, popularly known as thereport on Friday.
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