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. […]
Tag: GBPUSD
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). […]
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 […]
GBP/USD maintains gains after US retail sales.
GBP/USD gained traction on Wednesday and staged a nice rebound from two-year lows. The pullback in US bond yields triggered dollar profit-taking and extended support for the pair. Weak US retail sales data failed to impress dollar bulls as attention turns to the FOMC. The pair GBP/USD gained some positive traction on Wednesday and snapped […]
GBP/USD continues to recover and reaches 1.2100, in the Fed preview
The dollar corrects before knowing US data and the Fed’s decision. On Thursday the Bank of England would raise interest rates by 25 or 50 basis points. GBP/USD rises after falling for five days and recovers from lows since March 2020. A dollar correction is pushing GBP/USD higher on Wednesday. The pair is trading in […]
Last minute! GBP/USD falls below 1.2000 for the first time since March 2020
The pound is under pressure after weaker-than-expected UK data. The dollar strengthens as US yields hit new multi-year highs. Wall Street turns lower again as the FOMC meets. The pair GBP/USD reaches levels below 1.2000 for the first time since March 2020. The pound remains under pressure even as market participants expect a rate hike […]
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 […]
GBP/USD falls to new lows since March 2020 near 1.2050
The pound remains under pressure in the market. The dollar remains firm although it falls against the franc and the euro. GBP/USD falls for the fifth day in a row, with no signs of change. The GBP/USD is falling for the fifth day in a row. After bouncing back to the 1.2200 area, the pair […]
UK: ILO unemployment rate rises to 3.8% in April vs. 3.6% expected
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 […]
GBP/USD: Scope for a move to 1.2072/17 and below – Credit Suisse
GBP/USD continues downhill and tests 1.2150 on Monday. Analysts at Credit Suisse remain tactically bearish with next key supports at 1.2157/50 then 1.2072, which is certainly not considered a floor. Key Statements: “Next key support is seen at the recent lows at 1.2167/57, which we expect to be broken quite imminently, with short-term MACD daily […]
