GBP/USD renews two-year low under 1.1500, UK leadership contest results eyed – by anilpanchal7 GBPUSD Politics RiskAppetite Recession BOE
Firmer DXY joins fears of worsening energy crisis to exert downside pressure.Any recovery on Truss’ selection appears tepid amid US holiday, broad risk-off favoring the greenback.traders await the UK PM Leadership results on Monday. That said, the cable trades take offers near 1.1470 heading into the London open.
That said, the energy woes escalated after the Group of Seven nations agreed on capping the price of Russian oil in the international markets. Following that, Moscow halted energy supplies to the European Union through Nord Stream 1 pipeline, citing a ‘leak’, during the weekend.
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