GBP/USD falls for the second day in a row as sellers hold 1.2200, coupled with a boost in risk appetite. The strength of the US dollar is keeping the greenback afloat against most of the G10 currencies. Gloomy comments from Fed officials strengthened the dollar, which was a headwind for GBP/USD. The Bank of England […]
Tag: BOE
GBP/USD looks to build on the momentum above the 1.2200 level
GBP/USD rebounds from weekly low reached on Wednesday amid modest dollar weakness. The positive tone around the equity markets is weighing on the safe haven USD. Recession fears, US-China tensions and hawkish comments from Fed officials cap dollar losses. Investors also seem reluctant ahead of Thursday’s BoE decision and Friday’s NFP. The pair GBP/USD caps […]
GBP/USD Price Analysis: Bounces back above 1.2200, bearish amid modest USD strength
GBP/USD lowers on Tuesday, paring some of overnight gains to one-month highs. Nervousness over Pelosi’s visit to Taiwan boosts the safe-haven dollar and exerts downward pressure. The formation of an ascending channel favors the prospects for some buying on dips. The pair GBP/USD has seen some selling on Tuesday and extends the modest overnight pullback […]
GBP/USD extends retracement from multi-week high and falls below 1.2200
GBP/USD returns below the 1.2200 level on Tuesday amid a nice bounce in the USD. Recession fears and US-China tensions over Taiwan fuel safe-haven currency flows into the USD. Falling US bond yields could cap the dollar and support the pair ahead of the BoE. The pair GBP/USD has turned around from the 1.2275-1.2280 area […]
Gold Forecast: XAU/USD hits 2-week high around $1,775 on weak US PMI
The price of gold advances due to the fall in US Treasury yields and the weakness of the dollar. US equities rise despite cooling manufacturing data, illustrating that the Fed’s actions are making themselves felt. Fed policymakers oppose a “moderate” tilt, based on market reaction. Gold Price Forecast (XAUUSD): If Buyers Regain $1,800, Bias Changes […]
GBP/USD rises to a fresh daily high above 1.2200
GBP/USD regains positive traction on Monday amid a selling bias around the USD. Diminishing odds of a more aggressive Fed rate hike continue to weigh on the dollar. Softer risk sentiment and a rebound in US bond yields limit USD losses and limit the pair’s upside. The pair GBP/USD breaks back above the 1.2200 level […]
Bloomberg: Bank of England to step up fight against inflation
The Bank of England is expected to step up its fight against inflation next week, joining about 70 other institutions around the world in raising borrowing costs by half a percentage point, according to Bloomberg. The move, expected by most analysts and investors, would mark the biggest rise in UK interest rates for 27 years […]
GBP/USD trims intraday losses, trades above 1.1950 ahead of US PMIs.
GBP/USD saw some selling on Friday amid the surge in fresh dollar buying. Recession fears weighed on investor sentiment and benefited the safe-haven dollar. Bets on a 50 basis point Bank of England rate hike offset mixed UK data and continued to provide some support. The pair GBP/USD struggled to take advantage of the overnight […]
GBP/USD falls near 1.1900 amid modest dollar rally
GBP/USD falls for the second day in a row amid some buying around the dollar. High yields on US bonds and the change in risk sentiment benefit the dollar as a safe haven. Fading expectations of a 100 basis point Fed rate hike in July could cap the dollar and prevent deeper losses in the […]
GBP/USD Price Analysis: Bulls look to take control, waiting to break above the 50% Fibonacci level
GBP/USD rose for the third day in a row and hit a one-week high. Retracement of bets on a more aggressive rate hike by the Federal Reserve continued to weigh on the USD. Gloomy expectations from the Bank of England overshadowed mixed UK employment data and continued to act as support. The pair GBP/USD it […]