The Pound Sterling begins the week virtually flat against the Greenback on Monday, trading at around 1.2910 after hitting a daily high of 1.2942.
GBP/USD at 1.2910, stable despite US political developments, after touching high of 1.2942. Technicals: GBP/USD finds support at 1.2894, consolidating from highs. Bullish momentum holds; RSI positive with resistance at 1.2950, 1.3044 and supports at 1.2860, 1.2803. Over the weekend, political developments in the US saw President Joe Biden drop out of the presidential race and endorse Vice-President Kamala Harris.
The Pound Sterling is issued by the Bank of England . How do the decisions of the Bank of England impact on the Pound Sterling? The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
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