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Forex

GBP Recovers Against USD Amid Interest Rate Hike Expectations

Guavy AI Editorial Team
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USD GBP
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The British Pound (GBP) has recovered some of its early losses against the US Dollar (USD), trading at around 1.3235 as of Tuesday's European session.

This comes after the GBP/USD pair experienced a slight dip, with the US Dollar Index (DXY) reaching its two-month high of 101.50 before retreating to near 101.35.

Despite this recovery, the outlook for the USD remains strong due to market confidence that the Federal Reserve will deliver more interest rate hikes this year.

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