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GBPINR Well Supported Above 104 Mark

Published on Jul 05, 2023 12:45

GBPINR NSE July futures contract is staying well supported above 104 mark on Wednesday. The pair is quoting at 104.47 as compared to previous close at 104.28. However, GBPUSD is witnessing a slight pullback overseas amid increasing dollar bids ahead of today`s crucial Fed minutes that is likely to shed some light on future Federal rate stance. The pair is consolidating gains near a one-week high and is currently quoting at $1.2710, up 0.1% on the day. For the day, rising dollar strength overseas could add some pressure on the pound.

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