Pound Sterling (GBP) is likely to consolidate between 1.3520 and 1.3585. In the longer run, outlook for GBP remains positive, and it may rise to 1.3620; the chances of it reaching 1.3660 this time around are more limited, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
The much-anticipated summit between the US President and his Russian counterpart did not have a significant impact on the US dollar, despite the generally negative reporting in its aftermath (see the article below).
EUR/USD reverses its course, climbs on Friday, ignoring solid US Retail Sales data due to market participants still pricing in a Federal Reserve (Fed) rate cut in September. The pair trades at 1.1702, up 0.47%.