The pound depreciated almost 0.6 percent to a 4-day low of 1.5662 against the US dollar in early deals on Tuesday from yesterday's fresh 4-month high of 1.5750. The pair closed yesterday's deals at 1.5720.
The cable is expected to show a pull-back to near the 1.56 support in a corrective rally. However, its overall long-term technical picture suggests a resumption of rally from that support with 1.58 seen as the next key target.
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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.