UK POUND ON FRONT FOOT AMID DOLLAR PULL BACK; GBPINR SCALES ABOVE 104 DURING INTRADAY MOVES

Published on Sep 11, 2023 16:59

UK pound crept higher against the dollar on Monday, although the pair continued to linger around a three month low. GBPUSD is currently quoting at $1.2515, up half a percent on the day. Considerable pull back in the dollar index after hitting 105 highs last week also benefited the pound. The dollar index is currently quoting lower by 0.4% at 104.67. Upcoming jobs data from the UK and US CPI will be in focus for the week. On the NSE, GBPINR September futures stayed in the positive through the day and hit the day`s high at 104.16 before closing for the day at 103.95., up 0.26%.