GBP/USD gains ground for the second day in a row amid continued profit-taking around the dollar. Expectations for a more aggressive rate hike by the Fed and risk appetite weigh on the dollar. Brexit concerns could act as a headwind for the British pound and limit the pair’s gains. The pair GBP/USD extends last week’s […]
Tag: BOE
EUR/GBP breaks below the 200-day SMA and falls to two-month lows around 0.8400
EUR/GBP breaks below the 200-day SMA and falls to a two-month low on Wednesday. Recession fears weigh on the common currency and act as a headwind for the cross. High expectations about the BoE rate hike and upbeat data from the UK contribute to the improvement in the pound sterling. The crossing EUR/GBP has seen […]
GBP/USD Price Analysis: Bears have the upper hand near 1.1900
GBP/USD witnessed a reversal from the top end of a two week long descending channel. The dollar rose to a new two-decade high and was seen as a key pressure factor. A sustained break below the low of a year ago would set the stage for a drop towards 1.1800. The pair GBP/USD stalled on […]
GBP/USD continues to slide below 1.1900, the lowest level since March 2020
GBP/USD found fresh supply on Wednesday and fell to its lowest level since March 2020. UK political drama, Brexit woes, expectations of a less hawkish BoE weighed on sterling. Strong tracking of dollar purchases further contributed to the sell bias ahead of the FOMC minutes. The pair GBP/USD it struggled to capitalize on modest early […]
Bank of England: Inflation shock will translate into second-round effects – Huw Pill
“Much remains to be resolved before we vote on our August policy decision,” Bank of England Chief Economist Huw Pill said on Wednesday, as reported by Reuters. Statements: “The ‘go strong’ line reflects a willingness to act faster while emphasizing conditionality.” “We’re talking about rate hikes, not cuts.” “The line about ‘scale, pace and timing’ […]
BoE: Warns banks to prepare for financial storm
The Bank of England has warned that the economic outlook for Britain and the world has worsened since the start of the year and told banks to boost their capital reserves to ensure they can weather the storm. International organizations such as the IMF and OECD say Britain is more prone to recession and persistently […]
GBP/USD stabilizes back above 1.2150 and hits a fresh daily high
GBP/USD gained strong positive traction on Monday and was supported by modest USD weakness. The recent drop in US bond yields and a positive risk tone undermined the dollar’s haven. Aggressive bets on the Fed rate hike coupled with recession fears should cap dollar losses and cap the pair. The pair GBP/USD is experiencing some […]
Britain: Consumers wary of borrowing as inflation rises
British consumers increased their borrowing less than expected in May in a sign of caution among households as inflation rises, Bank of England data showed. Lending to consumers rose by 844 million pounds ($1.02 billion) in net terms, well below the 1.3 billion pounds increase expected and from 1.377 billion pounds in April. “With interest […]
EUR/GBP climbs back above 0.8650 after strong Eurozone inflation data
EUR/GBP achieves strong positive traction on Friday and surges to a weekly high. Stronger Eurozone CPI figures reaffirm ECB rate hike expectations and boost Euro. Bank of England caution and Brexit woes weigh on sterling and contribute to the pair’s strong move higher. The crossing EUR/GBP it has extended the previous day’s nice bounce from […]
GBP/USD flirts with 1.2100, the lowest level in almost two weeks after intervention by Powell and Bailey
GBP/USD witnesses a strong continuation of selling and falls to an almost two-week low. Bullish-tongued remarks from Fed Chairman Jerome Powell buoyed the dollar and put downward pressure on the pair. Bank of England Governor Andrew Bailey’s comments did not impress bulls or lend support to the pair. The pair GBP/USD extends the previous day’s […]