United States Dollar and Great Britain Pound: Sterling has fallen against the Greenback for this morning’s start. The Pound began its losses at the start of yesterday session with Britain posting its first budget deficit for January since monthly data began. Downbeat comments from BoE's Barker also having a negative effect on the currency pair and took it from an early 1.5620 down closer to 1.5550. The losses didnt stop there as another positive day for releases state side helped boost the US Dollar further. As the Fed raised the discount rate the US Dollar strengthened and pushed the Pound lower. GBP/USD opens at a low 1.5411, because of this.
- I expect a range in the GBP/USD rate of 1.5370 to 1.5550
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