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The pound fluctuated and went down yesterday, the daily line closed down slightly, and the current exchange rate is trading around 1.2690.
In addition to profit-taking, which put some pressure on the exchange rate, the rise in the U.S. dollar index after the Federal Reserve’s June meeting minutes released a hawkish signal and raised the Fed‘s interest rate hike expectations in July is the main reason for the weakening of the pound.
However, the Bank of England‘s interest rate hike expectations still limit the downside of the exchange rate.
Today, focus on the pressure situation around 1.2800, and the lower support is around 1.2600.
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