British pound gains; Dollar falls against Swiss franc; Euro remains under parity
Proactive Investors
Published Sep 30, 2022 07:44
Updated Sep 30, 2022 08:11
British pound gains; Dollar falls against Swiss franc; Euro remains under parity
The British pound is making incremental gains among the G10 set as the third quarter comes to a close.
GBP/CAD is 0.2% up at C$1.52, with similar price action being seen against the Swiss franc.
The GBP/USD pair is sitting at US$1.11, a small improvement from the previous day and marking the third consecutive day of clawbacks following the Bank of England’s sovereign bonds intervention.
Despite gains over three days, GBP/USD faces a steep hill
The US dollar is fairly soft compared to its impressive run of late, partially due to yesterday’s gross domestic product (GDP) results that showed negative growth of 0.6% (though that was to be expected).
Against the Swiss franc, the dollar lost ground, though a bullish clawback is already being entertained on the four-hour trading chart.
Bullish support on the USD/CHF pair
The Euro is still under parity against the US dollar at US$0.98, but has gained slightly against CHF and CAD.
Today’s Eurozone inflation data is expected to come in at 9.7%, and all eyes will be on how the Euro responds to actual results.
Read more on Proactive Investors UK
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