The reversal of Pound at 1.2065 slips. 1.2020 area. Concerns about China and Ukraine dampened investor sentiment. USD , pared losses as US Treasuries jump. A reversion of £ , from the intraday high of 1.2065 seen at the start of the European session extended to the 1.2020 region in a volatile market session as European markets rallied after a negative open. CONCERNS ABOUT CHINA, UKRAINE Exchange rates Investor optimism about the end of China’s zero-Covid policy faded on Thursday, as reports of rising infections and their strain on the country’s financial system cast doubt on a quick recovery. China’s economy. In addition, rising tensions in Ukraine, where the Russian military is shelling Kiev and other cities after the Kremlin refused to accept Zelensky’s peace plan, will further weigh on risk appetite and add negative pressure to GBP. In addition, the 0.5% of the interest rate of the Bank of England in December, after a 0.75% increase in November, fueled speculation about a relaxation of monetary policy in 2023 and a lower central bank rate, contrary to the pound. On the other hand, the US dollar is paying losses after a negative market opening. The US dollar index, which measures the value of the greenback against the most traded currencies, retreated to 10 .30 from just above the 10 .00 level after a modest recovery in US Treasuries.

Ethan Andrews

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