GBP/USD Rangebound as Pound Fails to Break Above 1.3500

The Pound Sterling (GBP) traded near 1.3450 against the US Dollar on Tuesday, with a session range of 36 pips.

This is the second sub-40-pip day in a week for the pair, which holds above the 1.3400 handle that capped it through late July and above the moving average band it spent most of the month beneath.

The Pound extracted 0.17% from the Dollar on the day, roughly a quarter of what the Australian Dollar managed in terms of gains against the US currency.

The high-beta commodity currencies were lifted by an equity melt-up and the prospect of the Strait of Hormuz reopening, but the Pound is not one of them.