The week was positive for the greenback. The US dollar index managed to set new highs near $93.50.
GBP/USD: forecast for June 19-23
The British pound moved higher as more members of the Bank of England’s Monetary Policy Committee voted for the rate increase. The BOE decided to maintain its monetary policy settings by the majority of votes, but 3 members dissented and voted for rate hike as they had become increasingly worried about high inflation.
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.