The Bank of England rose 25 basis points and the pound initially slumped, but then rebounded on dollar weakness. The Bank of England decided not to give any guidance on the pace and timing of monetary policy adjustments. The negative data on housing in the US fueled speculation that this country could enter a recession. […]
Tag: BOE
GBP/USD hits a multi-day high and heads for 1.2300
GBP/USD has been aggressively bid and has hit a 3-day high in the last hour. Softer US macro data weighed on the dollar and prompted a short-covering move. Rising US bond yields, risk aversion mood capped dollar losses and capped the pair. The pair GBP/USD experienced a short covering bounce on Thursday and was up […]
GBP/USD retreats modestly after BoE rate hike
Bank of England raises interest rate by 25 basis points, as expected. After a 75 basis point hike by the Fed, the focus returns to the data. GBP/USD weakens slightly after decisions but holds above 1.2050. GBP/USD lost ground after the Bank of England’s decision to raise the benchmark interest rate by 25 basis points. […]
Bank of England raises interest rates by 25 basis points to 1.25%
Bank of England moves in line with market consensus and rises 25 basis points. Haskell, Mann and Saunders voted for a 50-point raise. The pound loses ground after the decision. The Bank of England (BoE) raised the benchmark interest rate by 25 basis points to 1.25% after the meeting of the Monetary Policy Committee (MPC). […]
BoE: Raises interest rates by 25 basis points to 1.25% (upd)
LAST UPDATE 14:20 The Bank of England raised interest rates by a further 25 basis points, but said it was ready to take action to offset the risks posed by inflation that has topped 11%. A day after the US Federal Reserve raised interest rates to its highest level since 1994, the BoE maintained its […]
Forex Today: Fed-Inspired Dollar Selloff Eases, Focus on BOE
This is what you need to know to trade today Thursday June 16: The US dollar index DXY snapped a five-day winning streak on Wednesday following the Federal Reserve’s monetary policy announcement. However, dollar selling appears to have tapered off early on Thursday as the benchmark 10-year US Treasury yield has regained traction. The Bank […]
GBP/USD: Losses to extend a few cents below 1.20 in coming weeks – Scotiabank
The GBP/USD bounces back to 1.21 but strong headwinds remain. Scotiabank economists they expect the cable to drop below 1.20 in the coming weeks. A clear improvement in broader market sentiment is needed to reclaim the 1.20 area “In addition to the UK’s economic weakness, tensions between the EU and the UK over pressure from […]
EUR/GBP crosses the 0.8700 barrier and rises to the highest level since February 2021
EUR/GBP gains some traction for the fourth day in a row and climbs to new highs in over a year. The prospects of a less aggressive Bank of England and the Scottish referendum continued to weigh on the pound sterling. Market participants expect the ECB’s ad hoc meeting to provide some significant momentum. The crossing […]
GBP/USD hits new yearly lows below 1.2100
GBP/USD remained under pressure on Tuesday, hitting new yearly lows below 1.2100, although it recently bounced a bit after weak US PPI data. The pair has fallen sharply this week as unfavorable UK data weighs on Bank of England tightening bets while Fed tightening bets rise. The Fed and Bank of England monetary policy announcements […]
EUR/GBP soars towards 0.8580 after mixed UK employment data
EUR/GBP is moving higher on the back of lower-than-expected UK job application count data. Jobless claims have fallen to -19,700 from the previous figure of 65,500. This week, investors’ attention will remain focused on the monetary policy of the Bank of England. The crossing EUR/GBP is showing wild movements and has finally moved up as […]
