The Pound US Dollar (GBP/USD) exchange rate is heading lower on Tuesday after gaining a solid +0.67% in the previous session.
Losses so far are mild as the Pound is being held up versus the stronger US Dollar by encouraging Brexit comments from the newly elected Irish Prime Minister. Concerns over the UK labour market are weighing on sterling after UK retailers report widespread job cuts.
The US Dollar is in recovery mode after weak consumer confidence figure sent the greenback lower on Tuesday. Consumer spending could take a hit in the coming months. US durable goods figures are in focus for further insight into the US economic recovery.
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