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GBP / USD remains near 2-weeks lows

GBP / USD remains near 2-weeks lows

Erik Holm - Head of media


The GBP/USD pair remains near 2-weeks lows around 1.2550 after the publication of the weak PMI data in the UK service sector. The pair continued to retreat from a monthly high of 1.2784 and remained under pressure for the third consecutive session on Wednesday.

Let’s recall that the pessimistic attitude towards the pound, associated with the fears about no-deal Brexit on October 31, worsened again yesterday. The cause of the worsening is the pigeon comments of the head of the Bank of England. Even a decline in the dollar index amid falling yield treasurers could not help the currency of Britain.

We’ll see if the pair will succeed in attracting buyers at low levels or it will continue to lose ground in the face of political and economic uncertainty in Britain. Meanwhile, the United States today will publish ADP data on private sector employment and an ISM business services index.