Fundamental analysis
06 September, 2021
During Asian trading, the British pound eased against the dollar. The number of new Covid infections in the UK remains high, which has eased this currency pair. NFP data showed a much worse state of the US labor market (than expected) in August, which was a signal that the US Federal Reserve will continue its ultra-light monetary policy in the future. First of all, the Fed will refrain from gradually reducing the program of buying bonds from the open market, an amount of 120 billion dollars a month. At around 08:30, the pound is exchanged for 1,3804 dollars, which represents a weakening of the British currency by 0,38% since the beginning of trading last night. At 10:30 a.m., the (PMI) indicator (dynamics) of economic activity in the UK construction sector for August will be published.
