Home Economy 1.3675-to-1.40 Range Prevails in Data Heavy Week

1.3675-to-1.40 Range Prevails in Data Heavy Week

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– GBP/USD facing resistance at 1.40, support at 1.3675-1.37
– June’s inflation and job data eyed in UK after May GDP miss
– Fed testimony key for USD, Chinese data keeps RMB in focus
– Fed’s ambiguity constrains USD, global economy risks support

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  • GBP/USD reference rates at publication:
  • Spot: 1.3913
  • Bank transfers (indicative guide): 1.3520-1.3620
  • Money transfer specialist rates (indicative): 1.3780-1.3800
  • More information on securing specialist rates, here
  • Set up an exchange rate alert, here

The Pound-to-Dollar exchange rate enters the new week in the higher end of its likely range and could be volatile over the coming days as the market digests commentary from the Federal Reserve (Fed) while processing economic data from the UK, U.S. and other major economies.

Sterling enters the new week around 1.39 and near the higher end of a likely 1.3675-to-1.40 range after overlooking softer-than-expected May GDP data ahead of the…

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