Mark this man’s words. That’s because he is U.S. Representative Kevin Brady, one of the members of the current ‘Big Six’ Trump administration and Congress members working on the Trump administration’s major tax reform effort.
Although the GBP/USD has risen over the past few days, other pound crosses have been fairly quiet, suggesting that the cable’s gains have been driven primarily by weakness in the dollar rather than strength in the pound.
Spanish assets under pressure on Catalonia independence rumours; GBP rebounds on decent economic reports; gold remains well supported despite falling 5% from last month’s highs; FOMC speeches eyed after bank holiday weekend.
The pound has stormed back to life at the start of this week, rising from a low of 1.3030 to a high so far of 1.3200 against the dollar. Its rebound comes after a sharp drop at the end of last week, which ensured of the GBP/USD’s third-down close in as many weeks.