Pound Gains on Political Support as Dollar Recovers From Worst Week
The British pound found support from political developments, while the US dollar bounced back from its worst week since April. US equity markets were closed for Independence Day as investors reassess Fed tightening expectations ahead of the June FOMC minutes.
The British pound strengthened amid apparent political catalysts, though the source did not specify the exact event. The move came as the US dollar managed to recover toward the end of its worst weekly performance since April.
US equity markets were closed in observance of Independence Day. Market participants continued to reassess the likelihood of further Federal Reserve tightening and are preparing to analyze the minutes from the June Federal Open Market Committee meeting for additional policy clues.
Source: FXStreet Forex News