GBP/USD extends its gains for the second successive day, trading around 1.3200 during the Asian hours on Wednesday. The currency pair depreciated as the US Dollar (USD) gained momentum, driven by a combination of robust domestic economic data and a complex, mixed geopolitical landscape.
The Pound Sterling dives over 0.40% on Tuesday as risk appetite shifts sour, as the recently sworn-in MP Andy Burnham prepares to succeed Keir Starmer, who lasted two years at the job. At the time of writing, the GBP/USD trades at 1.3195, after reaching a daily high of 1.3259.
The cryptocurrency market is losing momentum and liquidity due to the lack of a bullish catalyst, such as Artificial Intelligence (AI), which is reducing retail and institutional participation.