17.07 - GBP/USD reverses the previous day’s losses
- by George Solotarov
GBP/USD escalates the recovery moves to 1.2570, up 0.15% on a day, while heading into the London open on Friday. The Cable recently picked up the bids as risk reset renews the US dollar declines. Also supporting the quote is the easing of lockdown restrictions in Leicester and few other second-tier catalysts. Traders may now look forward to the US Consumer Sentiment data during the easy day with a light calendar.
The US dollar index (DXY), the gauge of the greenback versus major currencies, declines 0.08% to 96.22. The US currency recovered the previous day amid fresh risk-off mood pushing traders towards the safe-haven. Though, a lack of major data and hopes of further stimulus, coupled with the global efforts towards finding the coronavirus (COVID-19) vaccine, recall the USD sellers.