Greenback hits fresh 1-week minimums
On Tuesday, the evergreen buck tumbled to fresh one-week minimums against the other key currencies as traders remained quite cautious ahead of testimony by Janet Yellen, Fed Chair due to start later in the day.
The currency pair GBP/USD went up 0.48%, hitting a seven-week peak of 1.4761.
The British pound managed to strengthen after a couple of opinion surveys published on Monday. Those surveys indicated that support for the “Remain” camp had managed to regain its lead in the vote.
An ORB survey for the Daily Telegraph newspaper revealed that 53% of voters backed the Remain campaign, compared to 46% support for the Leave camp.
A survey issued by NatCen also disclosed that Remain on 53% as well as Leave at 47%.
However, a survey issued by YouGov for the Times newspaper disclosed Leave ahead on 44%, while Remain hit 42.
The survey was carried out over the weekend, after the murder of a Labour Party member and supporter of EU membership, Jo Cox.
The currency pair EUR/USD gained 0.18%, trading at 1.1335.