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The pound is heading towards $1.30

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The pound is heading towards $1.30

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:

Screen Shot 2017 05 25 at 08.14.18

Investing.com

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 elevate prices higher and, as such, continues to highlight how the upside remains limited by Brexit anxieties.

“Participants will direct their attention towards the second estimate for the first quarter GDP report this morning which could be a non-event if estimates are unchanged. With uncertainty over Brexit still gripping sterling, downside risks remain present. From a technical standpoint, the GBP/USD could be displaying early signs of exhaustion with weakness below 1.2900 opening a path to 1.2775.”

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Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.



✍ Sumber Pautan : ☕ Business InsiderBusiness Insider

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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:

Screen Shot 2017 05 25 at 08.14.18

Investing.com

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 elevate prices higher and, as such, continues to highlight how the upside remains limited by Brexit anxieties.

“Participants will direct their attention towards the second estimate for the first quarter GDP report this morning which could be a non-event if estimates are unchanged. With uncertainty over Brexit still gripping sterling, downside risks remain present. From a technical standpoint, the GBP/USD could be displaying early signs of exhaustion with weakness below 1.2900 opening a path to 1.2775.”

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could cause ‘huge’ economic damage
  • 10 things you need to know in markets today
  • NOW WATCH: This is what Bernie Madoff’s life is like in prison

    Please enable Javascript to watch this video

    Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.



    ✍ Sumber Pautan : ☕ Business InsiderBusiness Insider

    Kredit kepada pemilik laman asal dan sekira berminat untuk meneruskan bacaan sila klik link atau copy paste ke web server : http://ift.tt/2rCCv5U

    (✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!



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