View on Currency Update - sterling pound By Heena Naik, Angel Broking Ltd
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Below are Views On Currency Update - sterling pound by Heena Naik, Research Analyst - Currency, Angel Broking Ltd
*Currency Update*
Today, GBPUSD has plunged by 0.45 percent whereas GBPINR has plunged by around 0.72 percent from its yesterday's closing. Reason behind the downfall could be attributed to:
- Broad demand for the safe-haven dollar amid a global surge in coronavirus infections that kept investors jittery.
- While most of the restrictions get lifted, Britain faces a new wave of Covid-19. The UK PM has urged the public to remain cautious.
- USDINR has fallen by almost 0.34 percent today which in turn has influenced the trend of GBPINR.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
