Pound Sterling (GBP) is up 0.3% vs. the US Dollar (USD) and a mid-performer among the G10 in an environment of broad-based USD weakness, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Slight increase in upward momentum may lead to US Dollar (USD) testing 7.2000; a clear break above this level seems unlikely. In the longer run, USD has likely moved into a 7.1620/7.2200 range trading phase, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The cryptocurrency market is struggling to hold onto gains accrued in May as weak sentiment triggers frequent but brief flash sell-offs. However, isolated rallies can be spotted in the artificial intelligence (AI) sector, led by Virtuals Protocol (VITUAL) and Grass (GRASS) tokens.