GBP/USD Steady Near 1.3338, Outperforms on Crosses – Scotiabank
GBP/USD remains range-bound around 1.3338, holding steady against the US dollar and outperforming on crosses despite a weak UK construction PMI, according to Scotiabank strategists Shaun Osborne and Eric Theoret.
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Scotiabank strategists Shaun Osborne and Eric Theoret note that GBP/USD is trading near 1.3338, remaining steady against the US dollar. The pair is outperforming on crosses despite disappointing UK construction PMI data.
The analysts describe the pound as range-bound against the dollar, with Bank of England expectations remaining stable. No clear catalyst has emerged to break the sideways trading pattern.
Source: FXStreet Forex News