GBP/USD: UK politics, economics tease bears around 1.2100, Fed Minutes, US NFP eyed By anilpanchal7 GBPUSD Politics NFP Fed Recession
The US Dollar Index remains pressured around 105.00 after refreshing a two-week top the previous day. The DXY’s latest consolidation could be linked to the US Independence Day holiday and the market’s preparations for the week’s key data/events, including the week’s Federal Open Market Committee Minutes and the US Jobs report for June.
Elsewhere, the latest survey from the British Chambers of Commerce mentioned that 54% of more than 5,700 companies it surveyed between May 16 and June 9 expected turnover to increase over the next 12 months. This is down from 63% in the previous survey and the lowest share since late 2020, when many businesses were under some form of COVID restrictions, per Reuters.
Additionally favoring the greenback is Russia’s claim of having complete control over Lysychansk and doubts over China’s ability to regain the economic transition, not to forget fresh covid woes from China’s Anhui province.
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