The GBP/USD exchange rate slightly recovers in sessions after weakening over the weekends. The pound sterling started its week on a positive note as it takes advantage of the greenback in Monday’s trading.
The GBP/USD exchange rate moved by 0.23% or 0.0028 points in sessions, trading for $1.2318 in sessions. The GBP/USD expair is doing fairly well compared to its previous close of $1.2288 while reaching ranges between $1.2284 and $1.2316.
Forex traders have focused on UK politics this Monday’s session, as the odds of a no-deal Brexit increase. Analysts are expecting the GBP/USD exchange rate to be on its back foot in the coming sessions.
News from the United Kingdom continues to concern traders, posing more uncertainties for the pound’s outlook. British Prime Minister Boris Johnson has amped up the Brexit rhetoric as the Conservative Party meets in Manchester, England.
The BPM vowed again to oversee the Brexit during the annual Conservative Party conference on Sunday. This news brought a tad of optimism for traders and was enough to help the GBP/USD exchange rate to enter positive territories.
Aside from the GBP/USD exchange rate, other pairs of the GBP saw green territories in Monday’s trading sessions.
The GBP/JPY pair went up by 0.22% or 0.29 points, trading for ¥132.90 in sessions. The pair has reached ranges from ¥132.48 to ¥133.09 in today’s trading.
Another pair that went up is the GBP/CHF. The trading pair also went up by 0.51% or 0.0061 points and currently exchanges for Fr1.2235. The GBP/CHF pair has climbed to levels between Fr1.2174 and Fr1.2247 in today’s sessions.
While the EUR/GBP exchange rate enters into the losing end as it contracts by 0.27% or 0.0024 points. The pair currently trades for £0.8876 against its previous close of £0.8900.