GBP/USD has capitalized on Monday’s recent gains and is trading above 1.2550. The Bank of England’s Bailey is due to speak soon after last week’s UK labor and inflation data boosted the case for further tightening. The Pound is about to test monthly highs as UK and US PMIs, Fed Meeting Minutes, US GDP and […]
Tag: BOE
GBP/USD hangs on to modest gains below 1.2500, upside looks limited
GBP/USD gained some positive traction on Friday, although it lacked bullish conviction. Encouraging UK retail sales data proved to be a key supportive factor. Stagflation fears, Brexit woes and modest dollar strength capped gains. The pair GBP/USD traded with a slight positive bias during the first half of the European session and was last seen […]
BOE: We still have some way to go on hardening – Huw Pill
The chief economist of the Bank of England (BOE), Huw Pill, said on Friday that the central bank still has a way to go in tightening monetary policyas reported by Reuters. Additional comments “Supported by the independence granted to the Monetary Policy Committee, we are capable of making the sometimes difficult decisions to return inflation […]
GBP/USD recovers back above 1.2400
GBP/USD has recovered much of Wednesday’s decline and is back above 1.2400 as the dollar fades. The 21 DMA again offered strong resistance around 1.2500, which could be a key resistance zone. UK data and its implications for the economic outlook and Bank of England policy remain in the spotlight with retail sales data due […]
GBP/USD flirts with daily highs below 1.2400, upside looks limited
GBP/USD gains positive traction on Thursday and recovers some of the previous day’s decline. Pullback in US bond yields keeps dollar bulls on the defensive, offering some support for the pair. Expectations of an aggressive Fed rate hike and risk-off sentiment should limit any significant decline in the dollar. Diminishing odds of further rate hikes […]
GBP/USD trims early losses, remains bearish around 1.2439
A combination of factors caused an aggressive sell around GBP/USD on Wednesday. A good rebound in dollar demand was seen as a key factor behind the initial leg down. The UK CPI report fueled stagflation fears and weighed on sterling amid fresh Brexit woes. The pair GBP/USD pared some of its steep intraday losses and […]
GBP/JPY nears one-week highs around 161.50 after UK data
The GBP/JPY cross gained strong positive traction for the third day in a row and soared to a one-week high. The British pound saw aggressive short-covering in reaction to the positive UK jobs report. Risk appetite momentum undermined the yen haven and continued to support the upside move. The crossing GBP/JPY it maintained its strong […]
I’m not happy about the inflation outlook, but more than 80% of the excess is due to tradable goods — Andrew Bailey
Bank of England Governor Andrew Bailey he said in testimony before the House of Commons Treasury Committee that he is not at all happy with the outlook for inflation and that it is a bad situation, Reuters reported. However, Bailey added, more than 80% of the UK’s excess inflation is due to energy and tradable […]
GBP/USD stabilizes at 1.2250, bears eye 1.20 level closely
GBP/USD has stabilized at 1.2250, where it is trading flat ahead of a busy week of US/UK economic events. Analysts believe that if sentiment continues to deteriorate, the risk sensitive pair could be pressured below 1.20000. GBP/USD has stabilized at 1.2250 on Monday against the backdrop of a nervous start to the week for global […]
GBP/USD flirts with daily lows, remains vulnerable near 1.2200
GBP/USD has failed to hold onto its modest early gains to the 1.2300 zone. A gloomy outlook for the UK economy and renewed Brexit fears act as a headwind for the British pound. Expectations for an aggressive Fed rate hike and risk-off sentiment benefit the USD and put pressure on the pair. The pair GBP/USD […]
