The week was positive for the greenback. The US dollar index managed to set new highs near $93.50.
GBP/USD: forecast for August 14-18
After GBP/USD was rejected down from 1.3250 on the dovish Bank of England and strong US jobs report, it continued drifting down in the past week. The lack of economic news from Britain and some recovery of the greenback contributed to the pair’s decline. The only thing worth mentioning is that British manufacturing production stagnated after contracting in the previous period.
The pound is highly volatile after a Brexit referendum. Have a look what other factors affect the UK currency. And get clues on future movements of GBP.
This is Forex trading plan for Thursday, May 24…
It seems like the rally of the greenback has ended. On Monday, the US dollar index tested levels near $94, however, closed below $93.50.