GBP
Traders may be entering holiday mode or looking for reasons to fade last week’s huge run up in sterling. While UK politics will likely dictate the next major move for the British pound, unexpected softness with the preliminary PMI readings put the pound under pressure and drove gilts higher.
The longer-term outlook for the British pound remains favorable and we could see investors want to buy any major dips.
Traders may be entering holiday mode or looking for reasons to fade last week’s huge run up in sterling. While UK politics will likely dictate the next major move for the British pound, unexpected softness with the preliminary PMI readings put the pound under pressure and drove gilts higher.
The longer-term outlook for the British pound remains favorable and we could see investors want to buy any major dips.
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