The UK's GDP decreased by 0.5% on a monthly basis while remaining unchanged in the fourth quarter,
according to data released on Friday. The existing numbers impede a strengthening of the pound
sterling.

DXY reached a high of 112.93 in November as a result of the Fed Reserve's decision to maintain hawkish
interest rates in response to resurgent recessionary fears. The dollar index managed to reach the top of
104 the next month, but then it began to decline. The dollar index reached its lowest point at the close
of 2022. The dollar index grew slowly at the start of the new year. DXY achieved a high of 105 on January 5. However, in the weeks prior to the month's end, the dollar index continued to decline, falling to 102.
On Friday, the DXY swings.

The GBP, on the other hand, has been fluctuating around 1.2100. However, the pinnacle for the
GBP/USD exchange rate occurred in November at 1.21, and on December 2nd, it increased even more to
1.22 to begin the following month. GBP/USD continued to rise until it peaked in December at 1.24
before turning bearish. Although GBP/USD fell in December, it began the New Year at 1.20. In January,
the GBP/USD began to rise and hit a high of 1.239. The GBP/USD exchange rate as of right now is
1.2129.