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Questions tagged [drifting downwards]

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MysticMoon MysticMoon Fri Aug 09 2024 | 7 answers 1690

Why is the GBP/USD exchange rate drifting downwards?

Could you please elaborate on the reasons behind the downward trend in the GBP/USD exchange rate? Are there any specific economic factors at play, such as the UK's economic growth prospects, interest rate differentials, or political uncertainties? How is the international trade environment impacting the currency pair? Additionally, what impact is the ongoing COVID-19 pandemic having on the exchange rate, and how are investors responding to these developments?

Why is the GBP/USD exchange rate drifting downwards?

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