FX MARKET REPORT 06.08.2020
GBP/USD has hit 1.3183, the highest since March, showing that the BoE’s decision includes powerful punches, propelling the pound. GBP/USD has hit a daily peak of 1.3183 – the highest since March – before consolidating its gains. Cable may continue higher after the BoE’s upbeat message, potentially breaking above 1.32. UOB Group noted EUR/USD could advance to 1.20 on a close above 1.1930 in the next weeks. The dollar’s index was flat at 92.814, having fallen more than 0.5% in the previous session to approach its two-year low of 92.539 marked last Friday.