The GBP/USD pair fell back below the 1.34 handle on Wednesday as markets retraced their recent bullish momentum for the Pound Sterling. The US Dollar recovered some ground amid investors' uncertainty about the state of the US economy.
GBP/USD turned bearish and dropped back below 1.34 on Wednesday. Markets pared back their recent tilt into a Pound Sterling bull run. The US Dollar recovered ground as investors weigh the state of the US economy. GBP/USD struck an abnormally nearish tone on Wednesday, plunging back below the 1.3400 handle amid a broad-market pullback from full-bore risk appetite. The Pound Sterling paused its recent one-sided trend into the high side, while the Greenback pared recent losses.
GBP/USD daily chart Pound Sterling FAQs What is the Pound Sterling? The Pound Sterling is the oldest currency in the world and the official currency of the United Kingdom. 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 .
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