5/28/2021 9:28:31 AM GMT | By FXStreet Insights Team
GBP/USD is trading close to 1.42 as the pound has been benefiting from hints of a Bank of England rate hike. Notwithstanding, FXStreet’s Analyst Yohay Elam explains why BoE’s bullishness is set to be insufficient to stop the dollar.
Data-driven dollar strength and end-of-month flows may tilt the balance toward the dollar
“According to the New York Times, US President Joe Biden will unveil a large $6 trillion budget – on top of his ambitious infrastructure plans. The news sent investors away from US debt, lifting Treasury yields and making the dollar more attractive.”
GBP/USD: Fundamentals point to cable paring some of its gains forexcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forexcrunch.com Daily Mail and Mail on Sunday newspapers.