The week was positive for the greenback. The US dollar index managed to set new highs near $93.50.
GBP/USD: forecast for Oct. 16-20
There was a report in Germany’s newspaper that the European Union could offer Britain a 2-year transitional Brexit deal if London agreed to settle its financial obligations with the bloc. The pound will remain sensitive to Brexit-related headlines, which will come from the EU summit next week. Trading will likely remain volatile. For the pound to be able to remain at the current levels, more certainty about Brexit deal is necessary.
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.