GBP/USD eases in line with peers – Scotiabank
|The Pound Sterling (GBP) is edging marginally lower, in line with its European peers, Scotiabank's Chief FX Strategist Shaun Osborne notes.
Chancellor talks up growth policies
"There was little reaction to comments from Chancellor Reeves outlining measures aimed at boosting UK growth—trade talks, looser planning and development rules— perhaps because there was little new in the comments and these measures will take time to have an impact. The chancellor threw her support behind the expansion of Heathrow airport to signal that the government is serious about removing obstacles to development."
"Spot losses are holding in the low 1.24 zone but weakness below the base of a minor bull channel on the short-term chart suggests downside risks remain for the pound. A move below 1.24 targets losses to the low/mid 1.23s in the short run."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.