The Pound is gaining momentum on Friday, benefiting from Yen weakness following soft Japanese household spending data. The pair bounced from lows around 200.70 earlier in the day, but is struggling to break above the previous two days’ highs, in the area of 201.40.
GBP/USD climbed on Thursday, driven into the high side by over-extended bearish price action that has plagued the pair, as well as a surprisingly close Bank of England (BoE) vote on interest rate moves that gave investors hope that the BoE might be moving to support the UK’s flagging economy despite
The US Dollar (USD) added to Wednesday’s small correction, slipping back to multi-day lows in the context of a widespread recovery in the risk-associated galaxy. In the meantime, the US federal government shutdown extended further, hitting a record with still no solution in sight.