POUND SOFTENS AGAINSTS US DOLLAR AS DROP FROM THREE WEEK HIGH EXTENDS

Published on May 07, 2024 17:40

British Pound slipped today as a drop from three week high extended against US dollar. GBPUSD currently quotes at 1.2536, down 0.29% on the day. The US dollar index is holding around 105 mark and keeping some stress on the Pound in tune with Euro. Economic cues were firm for UK though, capping losses for the Pound. US stocks also rallied following solid gains on Wall Street. The FTSE 100 soared 1%, having earlier risen above 8,300 for the first time.