EUR/GBP regains positive traction on Thursday and is back close to the overnight high. The gloomy outlook for the Bank of England is seen as a key factor in the sterling’s underperformance. The weakness of the dollar after the US CPI benefits the euro and continues to support the intraday move higher. The crossing EUR/GBP […]
Tag: BOE
The BoE’s chief economist does not see a return to quantitative easing anytime soon
The Bank of England’s chief economist, Huw Pill, said on Wednesday that he does not see a return to quantitative easing any time soon. “It doesn’t mean that at some point in the future we won’t be back to where we were – the need to ease policy and quantitative easing will come back,” he […]
GBP/USD rises back above the 1.2100 level
GBP/USD regains traction on Tuesday amid some selling around the dollar for the second day in a row. A positive risk tone appears to be a key factor weighing on the safe haven USD. The BoE’s gloomy economic outlook could act as a GBP headwind and limit the pair’s gains. The pair GBP/USD attracts fresh […]
BoE: It is very likely that we will have to raise the rate even more – Dave Ramsden
Bank of England (BoE) Deputy Governor Dave Ramsden said in an interview with Reuters on Tuesday that “most likely we will have to raise the bank rate further“. additional quotes I’m going to look at the indicators and I’m going to look at the evidence as we get closer to each next meeting. I do […]
GBP/USD gives back its modest intraday gains and remains below the 1.2100 level
GBP/USD gives back much of its intraday gains and turns neutral below the 1.2100 level. The BoE’s gloomy economic outlook continues to weigh on the GBP and acts as a headwind for the pair. Investors are now looking to this week’s US CPI and UK GDP for further directional momentum. The pair GBP/USD It is […]
EUR/GBP comfortably holds above 0.8400, bulls look to break above 200-day SMA
EUR/GBP attracts some buying on Monday, although the rally lacks continuation. The gloomy economic outlook from the Bank of England is behind the relative underperformance of the pound sterling. Recession fears act as a headwind against the Euro and limit significant gains in the pair. The crossing EUR/GBP attracts some buying near the 0.8415 area […]
GBP/USD falls below 1.2100 after US NFP report.
GBP/USD is set to end the week with heavy losses of 0.78%. US labor data poured a jug of cold water on recession fears ahead of next week’s CPI. BoE Pill: The bank will reach its inflation target, but “it will take some time”. The pair GBP/USD hit a new weekly low of 1.2002 in […]
Bailey (BoE): Rejects talk of reducing central bank independence
Bank of England governor Andrew Bailey has rejected suggestions by British prime ministerial front-runner Liz Truss that the government should have a bigger role in how the Bank operates. With inflation on track to top 13% later this year – the highest level since 1980 – the ECB has said it wants to set “a […]
Forex Today – Asian Session: The dollar is at risk of falling further
What to watch for on Friday, August 5: The dollar fell against most of its major rivals, ending the day near its recent lows, which is usually a sign of further short-term declines. Fears of a global recession resurfaced after the Bank of England announced its latest decision on monetary policy. The central bank raised […]
GBP/USD hovers around 1.2160 after Bank of England rally in volatile session
GBP/USD advances strongly and gains 0.17% on Thursday. The Bank of England raised the bank interest rate to 1.75% in a vote of 8-1. Bailey and company acknowledged that the UK will enter a recession from the end of 2022. Initial jobless claims in the US increased by 260,000 more than expected, as the labor […]