The pound is heading towards $1.30
|05/25/2017||Posted by BusinessMediaguide.Com under General World News||
LONDON — The pound was approaching 1.30 against the dollar on Thursday, with modest gains in early morning trading as investors wait for the UK’s first quarter GDP report.
Sterling passed above the psychologically significant $1.30 level last week, but has struggled against the greenback since then, largely thanks to dollar strength.
The pound is up 0.11% from the open, and as of 8.20 a.m. BST (3.20 a.m. ET) is trading at $1.2984:
FXTM research analyst Lukman Otunuga says in a note:
“Sterling was passive this week with prices hovering around 1.3000 as investors redirected their focus elsewhere. A vulnerable dollar did little to read more >>>