Pound strengthens on easing fuel shortages
The pound pushed higher again yesterday as the fuel shortages appeared to ease and growth in the service sector unexpectedly rose in September.
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The pound pushed higher again yesterday as the fuel shortages appeared to ease and growth in the service sector unexpectedly rose in September.
The euro has trended lower over the past week due to its negative correlation with a stronger US dollar, rising Eurozone inflation data, and concerns
The US dollar soared last week as global growth worries drove a risk-off mood and fuelled demand for the safe-haven currency.
The risk-sensitive Australian dollar has moved with shifting risk appetite over the last week.
The pound strengthened on Monday for a third consecutive session, recovering more losses, with GBP/EUR above the start of last week’s levels.
The pound mounted a convincing recovery on Friday, aided by a stronger-than-expected manufacturing PMI and an improving market mood.
The pound rebounded on Thursday, with the currency firming on the back of an upbeat market mood and strong GDP figures.
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