The pound remained on the back foot against the dollar yesterday. Deprived of any data releases in the economic calendar, the UK currency lacked the footing required to mount a fresh advance. On Monday, England proceeded to the next stage of the UK government’s roadmap for easing lockdown restrictions imposed at the beginning of January. The “rule of six” means gatherings are now permitted outside, while group sporting activities for adults and children can also resume in the fresh air. These positive steps – which...
A turgid start to the week saw rangebound conditions keep the pound to dollar rate firmly in 1.38 territory.
The pound to dollar rate retreated deep into 1.38 territory on Tuesday morning, following reports of a long-anticipated legal challenge from the EU.
The pound to dollar rate rose back above the 1.39 benchmark yesterday, maintaining its steady rise into the mid-range this morning.