- The US Dollar appears to be stabilising in early European trade on Thursday, weakening GBP/USD, EUR/USD, AUD/USD and NZD/USD.
- Despite the chaos in Washington DC risk appetite remains, suggesting further Dollar weakness on safe haven outflows and increased demand for riskier assets & currencies such as the British Pound.
GBP/USD HIT BY MODEST RALLY IN USD
The British Pound is mildly weaker in early trade on Thursday owing to a pick up in USD demand. Even so, the selloff in the greenback could resume soon as market optimism remains..
GBP/USD continues to advance within a well-defined channel dating back to September 2020.