EUR/GBP advances for the second day in a row and extends the previous day’s bounce from below the 0.8300 level. The better relative performance of the common currency could be attributed to a better than expected German PMI. A dovish assessment of the BoE decision last week keeps GBP bulls on the defensive. The crossing […]
Tag: BOE
GBP/USD near 1.3200, fails to recover after UK tax cuts and CPI data
UK Chancellor of the Exchequer Rishi Sunak’s announcement of further tax cuts has not given sterling a lasting boost. GBP/USD remains weak near the 1.3200 level after hot UK CPI failed to lift the pound either. While the latest fiscal policy announcement from the UK Chancellor of the Exchequer will certainly cheer up the British […]
GBP/USD at daily lows, approaches 1.3200 ahead of Powell and Bailey
GBP/USD is witnessing a sharp pullback from the 2 1/2 week high hit on Wednesday. A dovish assessment of the BoE’s decision last week acts as a headwind for the British pound. The appearance of some buying around the USD further contributes to the intraday drop of around 100 pips. The pair of GBP/USD moves […]
GBP/USD rises near two-week highs, climbs towards 1.3250
GBP/USD hit a nearly two-week high above the 1.3200 level on Tuesday, rising as much as 0.7% to 1.3250. The pair has been supported by the strength of risk appetite as global equities rise, resulting in a weaker USD. GBP/USD break above 1.3160-1.3200 resistance could be a key technical level but UK fundamentals are weak. […]
Possible increase of 25 basis points in May – UOB
Lee Sue Ann, an economist at UOB Group, assesses the latest BoE event, where the “Old Lady” raised the policy rate by 25 basis points. Key comments “The Bank of England (BoE), at its March meeting, voted by a majority of 8-1 to raise the bank rate by 25 basis points to 0.75%. This is […]
GBP/JPY surges above 157.00, targets yearly highs around 158.00
GBP/JPY advanced above 157.00 on Monday despite a risk-off sentiment in the market and is targeting yearly highs near 158.00. The pair was buoyed by a rise in UK yields along with its global peers. With dovish comments from Bank of England Bailey expected later this week and fragile risk appetite, further upside potential may […]
GBP/USD flirts with daily low, targeting 1.3100 level amid broad-based USD strength
GBP/USD saw some intraday selling on Friday amid a strong uptick in USD demand. A softer risk tone, the Fed’s dovish outlook turned out to be key factors supporting the dollar. The lack of follow-through on selling warrants caution before making aggressive bearish bets. The pair GBP/USD remained on the defensive heading into the American […]
GBP/JPY fails to hold above 156.00
Despite the general state of risk appetite in the market on Thursday, the moderate BoE rate hike prevented the GBP/JPY pair from holding above 156.00. Amid rumors of a Russia-Ukraine peace deal that could affect safe haven currencies like the yen, this may not be enough to prevent a rally in the GBP/JPY pair. The […]
GBP/USD regains some strength, bounces back above 1.3150
GBP/USD has recovered from post-BoE lows at 1.3100 and is up again as high as 1.3150. The pair has yet to return to pre-BoE levels at 1.3200 as traders ponder the dovish rally. The BoE’s dovishness coupled with global economic headwinds as a result of the Russo-Ukrainian conflict will continue to weigh on the pair. […]
GBP/JPY corrects sharply from multi-week highs, dips below 155.50 after BoE
GBP/JPY fell more than 120 pips from a four-week high in a knee jerk reaction to the BoE decision. The BoE raised rates by 25 bps, disappointing some investors who had anticipated a more aggressive rate hike. Ukraine diplomacy hopes undermined the JPY safe haven and provided support ahead of the BoJ. The crossing GBP/JPY […]
