During Tuesday’s trading session, the British Pound appreciated against the US Dollar by 143 pips or 1.11% to end the trading session at 1.3055. On Wednesday morning, the rate slumped to the 1.3030 mark.
Due to a massive surge during yesterday’s trading day, it is expected that the rate might trade sideways during today’s trading session. Most likely, the British Pound will trade at the 1.3000 level.
However, the British Pound could depreciate against the US Dollar towards the monthly PP at 1.2924 during today’s US FOMC Meeting Minutes release at 19:00 GMT.
