GBP/USD rose modestly on the first day of the new week, although there wasn't any follow-through.
The US dollar (USD) fell back from a six-month high amid some repositioning trades ahead of key US macro data this week.
(Fed) stubbornly keeping interest rates higher for longer remains supportive of elevated US Treasury yields and continues to provide some support for the Greenback. Expectations that: BoE ends the policy tightening cycle, unable to lift the GBP/USD exchange rate from the three-month low hit last week.
The US dollar (USD) fell back from a six-month high amid some repositioning trades ahead of key US macro data this week.
(Fed) stubbornly keeping interest rates higher for longer remains supportive of elevated US Treasury yields and continues to provide some support for the Greenback. Expectations that: BoE ends the policy tightening cycle, unable to lift the GBP/USD exchange rate from the three-month low hit last week.
