Sterling rises against dollar.
GBPUSD continues to rise against the dollar – benefiting from the widespread dollar bearish sentiment as well as the continuation of the positive sterling mood across the FX markets. Dollar bearishness is the direct result of Fed Governor Christopher Waller saying on CNBC on Friday that the rise in inflation is likely to be transitory, echoing comments from other Fed officials, including Chair Jerome Powell, over the past week. GBPUSD is also driven by the continued sterling optimism as UK is showing the widely successful vaccination programme and it on its way to a faster economic recovery than in the European Union, which is facing a third wave of infections. Investors will be also watching PMI surveys for the UK, together with data on the labour market, inflation and retail sales later this week.
Except buyers on downward corrections.
Next resistance to watch – 1.4000
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