The sterling pound (GBP) is a moderate overcoming in the session after having fallen modestly in line with its peers in a light trade during the night, says Shaun Osborne, head of FX strategy of FX of Scotiabank.
The pound remains little changed in the day
“The pound is receiving some protection due to its relatively low commercial exposure to the USD in the middle of the focus on tariff The apparent moderate trend in the voting division is also providing some support. The market assessment for an additional cut in March has been significantly weakened after the BOE message that the policy adjustments should continue to be restrictive.
“The recovery of the torque since the minimum of last week stabilized around point 1.24 at the end of last week and this area can continue to be an anchor for the GBP in the short term while the markets try to determine a stronger direction of direction. The support is in 1,2360.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
