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The US dollar index was seen posting gains on Thursday. This came despite import prices falling 0.3% on the month while the weekly unemployment claims rose higher than forecast. Investors look to the monthly retail sales report due later in the day. Forecasts show a modest rebound in retail sales for the month of May. The data comes ahead of next week’s Fed meeting. Investors expect the central bank to cut rates during the year.
Sterling Muted as Boris Johnson Leads
The kick off to the top spot at 10 Downing street started yesterday with the favorite, Boris Johnson leading the way. The UK Conservatives voted through seven candidates with three being eliminated. The next round of voting is due to take place this coming Tuesday. The sterling was however muted to the news as it continues to trade flat.
Will GBPUSD Breakout from its Range?
The GBPUSD currency pair has managed to post some modest gains. However...
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