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GBP to USD Exchange Rate Begins Recovery as US Democratic Party Could Control Senate

January 6, 2021 - Written by James Fuller After plunging at the beginning of the week, the British Pound to US Dollar (GBP/USD) exchange rate is making a recovery attempt today. Investors are buying the Pound again as the US Dollar is sold on higher market risk-sentiment. While coronavirus jitters are weighing on Sterling, the US Dollar is being sold today as investors react to speculation that there could be more government stimulus in the US depending on how US Senate elections in Georgia conclude. Following last week’s fairly bullish movement, GBP/USD has seen more mixed movement this week. Since opening the week at the interbank level of 1.3676, GBP/USD has been trending with a largely downside bias.

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