The Pound US Dollar (GBP/USD) exchange rate is holding steady on Wednesday sub US$1.34. The pair rallied hard in the previous session reaching an 8 month high of US$1.3492 before paring gains to settled just 0.1% higher at $1.3383.
Brexit nerves are rattling investor after emergency talks highlighted the distance between the two sides. The UK government sees little chance of a deal being reached. Meanwhile increased footfall in retail destinations is underpinning the Pound. BoE’s Andrew Bailey could drive direction later.
US manufacturing continued to rebound strongly lifting demand for the US Dollar. ADP employment data is in focus ahead of Friday’s non-farm payroll.