Pound to US Dollar

The Pound to US Dollar FX Signals | (GBP/USD) exchange rate tumbled as the US Dollar (USD) rebounded today. Investors have been buying into the safe-haven currency as global market sentiment remains cautious.

Pound (GBP) Struggles for Direction as GDP Data Limits Losses

The Pound struggled for direction today, though better than expected GDP data from November limited Sterling’s losses.

Chancellor Rishi Sunak also spoke on the figures, stating that:

‘It’s clear things will get harder before they get better and today’s figures highlight the scale of the challenge we face.’

This comes as Sunak faces growing pressure to add more support to those affected by the coronavirus in his budget in March, worrying GBP investors.

US Dollar (USD) Appealing as Global Coronavirus Gridlocked

The US Dollar has become increasingly appealing this week as investors snap up the safe-haven currency.

Forex Signals – The U.S. dollar was down

This has caused a slight rebound in the US Dollar’s safe haven appeal. Euro US Dollar (EUR USD) Exchange Rate

The proposal not only offers a minimum wage of $15 per hour but also further funding for coronavirus testing and new vaccination programmes. Dollar Down With COVID19 Worries

Sterling to Weaken if US Dollar continues its Rebound

The Pound (GBP) could face further worries if the US Dollar (USD) continues its upward turn and global market sentiment falters. Forex Signals – Bitcoin hits highest level

Pound investors will keep an eye on any further coronavirus developments in the coming days, with some investors worried that restrictions could be made tougher next week, which would add pressure to Sterling.

The US Dollar (USD) will be cheered on by a negative market sentiment. Euro to Pound (EUR/GBP) Exchange Rate

However, as the weeks pass and economies begin to start their vaccine rollouts, it’s perceived that economies will begin to recover from the pandemic, likely boosting global market sentiment and weakening the ‘Greenbacks’ gains.

Pound to US Dollar