Pound to Dollar Rate Tests 1.37 in ‘Risk-on’ Markets, Crédit Agricole says USD Advance isn’t Done
– GBP/USD extends Oct. rally
– Reclaims its 2021 advance
– Aided by improved market sentiment
– Credit Agricole says USD strength unfinished
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- GBP/USD reference rates at publication:
- Spot: 1.3699
- Bank transfers (indicative guide): 1.3320-1.3415
- Money transfer specialist rates (indicative): 1.3576-1.3630
- Secure a specialist rate here
- Set up an exchange rate alert, here
The Pound to Dollar exchange rate (GBP/USD) extends its October recovery aided by rising stock markets and improved investor sentiment, however a leading foreign exchange analyst says it’s too soon to bet against the Dollar.
GBP/USD rallied to 1.37 on October 14, its highest level since September 28 in a move that coincides with a broader rally in global stock markets.
The advance came alongside a move higher in the EUR/USD back above 1.16.
Investor sentiment is turning more optimistic as per the…