⚡Crypto Alert : Altcoins are up 28% in just last month! Unlock gains and start trading now - Click Here

GBP/USD Trades Close to a One-Month High While Waiting on the Next PM

GBP/USD is trading close to a one-month high as the uncertainty around the elections continue and markets wait to see who will be the next prime minister. At the time of writing, this forex pair is trading at around 1.274.

The recent rally in the Pound has been driven by a weakness in the US dollar over dovish comments from the Fed, hinting at an upcoming rate cut in the near future. On Monday, GBP/USD managed to touch a one-month high as a result of continued weakness in the dollar.

So far, Boris Johnson is in the lead and is the most hopeful contender to take over as Britain’s next prime minister. However, given that he is a known Eurosceptic and the face of the original Brexit referendum campaign, the odds of a no-deal Brexit have risen considerably over his possible ascension.

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR See More
Avatar
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles
🔒 OPEN A TRADING ACCOUNT