GBP/USD seesaws around 1.3550 on UK’s political, Brexit risks ahead of PMI data By anilpanchal7 GBPUSD Brexit Politics Fed PMI
UK PM Johnson braces for tough week as Tories voice dislike over ‘Partygate’.
In doing so, the cable pair fails to justify the US dollar strength ahead of the key preliminary PMI numbers for January for the UK and the US. Other than the pre-PMI cautious, the pair’s indecision could also be linked to the market’s fears of hawkishAdditionally, UK PM Boris Johnson is in a political grind amid investigations over holding a booze party during the peak covid lockdowns in Britain.
On a different page, the US State Department and UK Deputy Prime Minister Dominic Raab both flashed warnings over Russia’s preparations for invading Ukraine, which in turn magnified geopolitical fears and challenge the GBP/USD buyers. Furthermore, Friday’s downbeat UK Retail Sales, which contrasts with the hopes of the hawkish Fed, also exert downside pressure on the cable pair.
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