Pound Sterling falls against US Dollar despite “PARTIAL” US government shutdown

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  • Sterling drops to 1.3440 against the US Dollar as the Greenback rebounds.
  • The US Dollar gains even as Washington faces mass lay-offs risks amid the government shutdown.
  • Investors await speech from BoE Governor Bailey at 17:30 GMT.

The Pound Sterling (GBP) trades 0.3% lower to near 1.3440 against the US Dollar (USD) during the European trading session on Monday. The GBP/USD pair faces selling pressure as the US Dollar rebounds strongly despite growing risks that the White House would be forced to make mass lay-offs in the wake of a partial United States (US) government shutdown.

The USD (DXY), which tracks the Greenback’s value against six major currencies, gains 0.55% to near 98.25.

Longer term outlook above and then a slightly shorter term analysis.

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