Rebounding from early European session's 4-day low of 1.6194 against the US dollar, the pound rose as high as 1.6242 before holding steady around 9:20 am ET Tuesday. The cable is presently worth 1.6240 with 1.6260 seen as the next likely resistance level in the near-term.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.