- The pound remains strong, while the dollar falls against G10 currencies.
- GBP / USD heading to the highest close since April 2018.
The GBP / USD extended the bounce from 1.3980 and reached 1.4069, the highest level since April 2018. The price remains above 1.4050, supporting both the persistence of the strength of the pound and a general decline in the dollar.
The greenback lost strength throughout the market in the American session, pushing the dollar index to weekly lows and closer to 90.00. A pullback from recent highs in Treasuries, coupled with an improvement in stock prices, weakened the dollar.
On the pound side, the currency remains strong on all fronts. The expectation of a quick vaccination in the UK remains a key driver for the currency. EUR / GBP trades in the zone of lows in months.
Later on Monday the prime minister Boris Johnson will announce how the restriction measures continue at a conference at 19:00 GMT. The schools are estimated to reopen on March 8.
Technical levels
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