The unemployment rate rose to 3.8% in April in the UK. The change in the applicant count came to -19,700 in May. UK wages excluding bonuses rose 4.2% yoy in April vs. 4.0% expected. The Office for National Statistics (ONS) has shown on Tuesday that UK official jobless rate rose to 3.8% in April, up […]
Tag: BOE
GBP/USD returns approaching yearly lows around 1.2160
GBP/USD has seen selling for the fourth day in a row and has again come close to the all-time low. Disappointing UK macro data fueled recession fears and weighed on the British pound. Aggressive bets on the Fed rate hike and the risk-off environment benefited the dollar and contributed to sales. The pair GBP/USD added […]
GBP/USD falls towards 1.2200 to a fresh four-week low
GBP/USD witnesses strong selling for the fourth day in a row and falls to a new multi-week low. Political jitters in the UK, Brexit woes and disappointing macro data from the country are weighing on the British pound. Expectations of an aggressive Fed rate hike and risk-off sentiment benefited the dollar and added to the […]
GBP/USD falls below 1.2250 after bad UK data
GBP/USD has extended its decline after the UK data release. Most of the economic data has been poor. This week, investors’ attention will remain focused on the monetary policies of the Fed and the Bank of England. The pair GBP/USD has trimmed its modest recovery and has fallen to fresh daily lows, below 1.2250, after […]
GBP/USD hits multi-week lows near 1.2420
GBP/USD hit multi-week lows on Friday at the 1.2400 area, and the bears are attempting to move down to the 1.2300 area. In the short term, the focus is on the upcoming US CPI release and whether it will affect Fed tightening expectations. The GBP/USD reached new multi-week lows in the 1.2420 area on Friday, […]
BoE: Big British banks are no longer ‘too big to fail’
The Bank of England said it was pleased that Britain’s top banks could close without jeopardizing the stability of the financial system or disrupting customers, but found shortfalls at three major credit institutions. In the first public assessment of how banks that collapse during a crisis could be solved without the help of taxpayers, BoE […]
Bank of England targets another 25 basis point rate hike next week – UOB
Lee Sue Ann, an economist at the UOB Group, has suggested that the Bank of England could raise the key policy rate by another 25 basis points at its June 16 event. Key comments “Previously, we had held a cautious view that the Bank of England would pause once the policy rate reached 1.00%. However, […]
GBP/USD falls to 1.2550, remains within familiar ranges
GBP/USD falls back below 1.2550 but remains within familiar ranges as last week’s lows/21 DMA offer support. The survival of UK Prime Minister Johnson’s no-confidence motion has been a key talking point this week, but it hasn’t impacted sterling much. Currency markets are likely to remain dovish ahead of Friday’s US CPI. The strength of […]
GBP/USD recovers from 3-week lows, heads towards 1.2500
GBP/USD fell to near three-week lows but has since recovered to approach 1.2500 as the 21 DMA offers support. Sterling was little affected after British Prime Minister Johnson survived (albeit weakened) a confidence vote. Conditions could remain quite limited ahead of key US CPI data on Friday. The GBP/USD recovered from a brief dip to […]
GBP/USD extends corrective decline from multi-month highs, weakens further below 1.2600
GBP/USD found fresh supply on Tuesday and broke the streak of four consecutive days of gains. Rebounding US bond yields and risk aversion buoyed the safe-haven dollar and put pressure on it. The gloomy outlook for the UK economy favors the prospect of further losses amid Brexit woes. The pair GBP/USD saw some selling on […]
