BRITISH POUND BREAKS UNDER 1.2700 MARK TO TEST TWO WEEK LOW

Published on Mar 19, 2024 14:58

The British Pound tumbled today, extending its recent selling spree and broke under 1.2700 mark against the US dollar. The dollar firmed up ahead of the US FOMC interest rate decision after recent data showed sticky inflation levels. Pound is currently quoting at 1.2691, down 0.35% on the day � plunging to two week low. UK consumer and producer price inflation data is due tomorrow and there is some cautiousness in UK stock markets too ahead of the data. The benchmark equity index FTSE100 is down marginally to one week low. Meanwhile, on the NSE, the GBPINR futures broke under 105.50 mark in early moves and currently trade at 105.27, down 0.30% on the day.