The sterling pound (GBP) rises 0.3% against the US dollar (USD) and is an average yield between the G10 in an environment of generalized weakness of the USD, says the head of FX Strategy of Scotiabank, Shaun Osborne.
The trend of several months is bullish
“The internal risk is somewhat elevated while we wait for a heavy release calendar including employment on Tuesday, and industrial production and trade on Thursday. The foundations are offering some stability for the pound But not the basis for support since The differentials They have fallen back to the lower end of their range. “
“As with the EUR and the ECB, the GBP will need some support of the BOE and a change in market expectations towards the neutral, given that short -term rates expectations are still valuing almost 40 basic points of relief by the end of this year. Markets do not foresee changes for the next meeting of the BOE on June 19.”
“The trend of several months is upward given the clear sequence of higher and highest minimums of the GBP/USD. A new maximum of several years was reached on Thursday, finally breaking above the level of 1,3600. We notice the absence of significant resistance before the level of 1,3750. The short -term support is expected to be below 1,3500.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
