Exchange rate refers to the value of one currency in relation to another. It is the price at which one currency can be exchanged for another. Exchange rates are determined by a variety of factors, including supply and demand for each currency, economic and political conditions in each country, interest rates, inflation rates, and other factors.
GBP/USD attracted some bargain hunting in Asia on Wednesday and now appears to have interrupted the previous day’s retracement from around the 1.2300 mark or near two-week high. The U.S.…
