GBP plays a secondary role depending on the U.S. stock indexes
The world’s major currencies competing with the US dollar have been playing the second role for a long time. Investors often ignore fundamental data, being more interested in the trends of the US stock indexes, which mostly affects the foreign exchange rates now. It is also acute for the pound, which, after the referendum on the UK membership in the EU in 2016, has often ignored the reports on the UK GDP, inflation, or unemployment. So, what’s the difference whether it is Brexit or the pandemic?
The longer the…
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