Forex
GBP Strengthens Above 1.3550 Amid UK Growth Measures
The British Pound (GBP) strengthened against the US Dollar (USD), rising above 1.3550 during early European trading hours on Wednesday.
This upward trend is attributed to measures announced by UK Chancellor John Healey aimed at promoting economic growth and attracting private investment into the UK.
The GBP/USD pair's positive bias remains intact as long as it holds above its 100-day Simple Moving Average (SMA).
The upcoming release of UK GDP and US inflation figures will be closely watched by traders, who are awaiting cues on the US Federal Reserve's policy path amid rising bets for a September rate hike.