Last week’s rollercoaster ride for FX markets is unlikely to extend through to today as the Juneteenth holiday in the U.S. should come with lower market volatility. Through the Asian session, price action on GBP/USD has been muted with no significant news/announcements from the weekend.
Earlier this morning the UK’s Treasury Minister Simon Clarke did mention that they do no expect a recession which may have given rise to cable’s marginal rise shortly after the statement.
