The cable crashed on Thursday as investors rushed to the safety of the US dollar amid a massive market sell-off. It is recovering on Friday, also thanks to the Fed’s second emergency intervention, Yohay Elam from NDDFX informs.
“President Donald Trump repeated the incorrect claim that everybody that can get a Covid-19 test and said markets will recover. He also rejected the Democrats’ proposal for special funding.”
“After cutting rates last week, the Fed injected $500 billion in liquidity on Thursday and will do so again on Friday.”
“The pound is well-positioned to beat its peers amid the better response from British policymakers.”