British Pound Surges on Dollar Weakness, Breaks Out

The British pound sterling rallied against the US dollar on Tuesday, driven by broad dollar weakness rather than domestic strength. Cable spent the London session in a narrow range, hitting a session low of 1.3381 around 10:00 GMT.

During the New York afternoon, the dollar repriced lower, allowing GBP/USD to break out from its intraday range. The move was characterized as a breakout on the back of someone else's weakness, with no specific UK catalyst cited.