GBP/USD clipped another multi-year peak on Thursday, hitting a 31-month high bid 1.3434 as Cable gets pushed into the high end by broad-market Greenback selling.
GBP/USD got pushed into another multi-year highon Thursday. Broad-market Greenback weakness has bolstered Cable further. The Pound Sterling rally is continuing unabated despite a lack of UK data. Risk appetite has swung back into the high end on the back of better-than-expected US economic figures, easing investor concerns of a potential economic slowdown.
It is the fourth most traded unit for foreign exchange in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data. Its key trading pairs are GBP/USD, aka ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders , and EUR/GBP . The Pound Sterling is issued by the Bank of England .
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