LONDON, May 30 — The British pound traded little changed against a faltering US dollar today but was still set for its first monthly gain in five as the risk-sensitive currency benefited from improving sentiment.
“The rebound in GBPUSD largely reflects USD depreciation,” said Vasileios Gkionakis, EMEA Head of CitiFX G10 Strategy, who remains bearish on sterling against the euro and commodity FX, citing weakening growth, depleting household savings, absence of meaningful fiscal stimulus and a likely resurfacing of Northern Ireland protocol-related headlines.
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