10.06.2020 GBP/USD Daily Analysis

10.06.2020 GBP/USD Daily Analysis

The dollar was weaker in early European trade Wednesday, with investors wary ahead of the latest meeting of the Federal Reserve. The U.S. dollar is losing ground against a broad basket of currencies, and the US Dollar Index is close to 96. GBP/USD traded 1.2766, up 0.3%, not far off a three-month high. Still, it’s debatable how much longer sterling can retain this strength given the uncertainty over its Brexit trade negotiations with the European Union. UK PM Boris Johnson is expected to announce further guidelines for the easing of the pandemic-led stop in the economic activities. In addition to the updates on how the economy will reopen, markets will observe the Tory leaders’ say on China and Brexit.