GBP/USD bulls hold the fort as US Dollar stays soft – by fx_ross GBPUSD Currencies DollarIndex BOE Brexit
GBP/USD bulls are in town as the US Dollar weakness and Brexit noise comes back to the fore. is flat in Asia as markets consolidate the opening range and US "Dollar softness that kicked in at the start of the week. At the time of writing, GBP/USD is trading at 1.2065 and has stuck to a 1.2042/67 range so far. Sterling is up from a 7-week low due to not onlyweakness but also following British Prime Minister Rishi Sunak signing a new trade deal with the European Union.
The Northern Ireland Protocol has been a factor playing into the Pound's trajectory in the forex space in recent days while a new agreement, known as the Windsor Framework, has been drawn out between the two sides. The agreement is designed to safeguard trade flows within the UK, protecting Northern Ireland’s place within the UK. However, as the Guardian writes, ''the prime minister is obviously not out of the woods. Once the detail emerges, there could be ministerial resignations.
'' just how generous pay rewards are for public-sector unions, and whether government efforts to reduce economic inactivity – to be outlined in the budget on 14 March – are successful.
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