- GBP/USD is stuck at 1.31 level as bull-bear tussle goes on
- BP share price jumped in-spite-of record loss and dividend slash
- Oil major helps FTSE 100 to stay up
Reports about the progress in the coronavirus-relief-bill talks kept traders less jittery and allowed GBP/USD to trade in a stable range in early London Tuesday session. The directionless moves in the pair suggest the market is awaiting more clarity on the news.
Oil major BP announced a dividend cut – first in a decade, and a record 6.7 billion dollar loss in the second quarter. Surprisingly, its shares jumped by more than 5 Percent – indicating much negative news was expected due to the lack of demand for energy in these Covid-19 days.
Despite this jump in BP shares, FTSE 100 and other indices were trading without much change in the morning session.