GBP/USD Retreats from Year High as Burnham Policy Optimism Fades
GBP/USD declined from its one-year high as optimism over incoming Prime Minister Burnham's market-friendly policies faded, according to Scotiabank analysts.
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Scotiabank's Shaun Osborne and Eric Theoret noted that GBP/USD is trading lower on the day and has fallen well off the one-year high reached earlier on optimism that incoming PM Burnham would pursue market-friendly policies. Despite that initial support, the pound has slipped late in the week, indicating a waning of the bullish view.
Source: FXStreet Forex News