Pound Hit Multi-Day Lows Amid Investor’s Cautious Mood

Pound Hit Multi-Day Lows Amid Investor’s Cautious Mood

18 Jan 2021 02:33 PM
 

Pound extended losses and dropped to fresh multi-day lows, around 1.3535 amid the cautious mood benefitting Dollar’s safe-haven status.

Investors are worried about the economic recovery amid the surging number in coronavirus cases. The worries were further fuelled by Friday's disappointing US monthly Retail Sales figures for December which offset the better-than-anticipated Chinese GDP growth figures for the fourth quarter of 2020.

The pair was further pressured by the imposition of fresh restrictions in the UK and failed to gain any relief from the optimism over the rollout of coronavirus vaccines.

It is an uneventful for the UK and US hence, coronavirus updated will play a key role in influencing the broader market risk sentiment and the USD price dynamics.