In the opinion of the currency strategists of UOB Group, Lee Sue Ann and Quek Ser Leang, the GBP/USD it is still at risk of a deeper setback in the short term. 24 hour outlook: “Our expectations that the pound would trade sideways yesterday were wrong as it tumbled to a low of 1.1622 during […]
Tag: GBPUSD
GBP/USD struggles to preserve modest intraday gains and pulls back towards 1.1700
GBP/USD trims modest intraday gains and pulls back to the lower end of its daily range. A combination of factors is helping the dollar trim intraday losses and putting downward pressure. A gloomy economic outlook in the UK supports the prospects for a further short-term depreciation move. The pair GBP/USD struggles to take advantage of […]
GBP/USD risks falling to 1.1630 – UOB
According to UOB Group currency strategists Quek Ser Leang and Lee Sue Ann, the GBP/USD could extend the decline to the 1.1630 area in the coming weeks. 24 hour outlook: “We expected the pound to weaken yesterday, but were of the opinion that the main support at 1.1630 was probably out of reach. Our opinion […]
UK: Utilities report record cost rises and are less optimistic about the future
According to the latest data from the Confederation of British Industry (CBI), released during the Asian session on Tuesday, UK utilities have posted record cost increases in the past three months and are dim optimistic about the future as inflation headwinds look set to further reduce demand. Following the release of the data, Charlotte Dendy, […]
GBP/USD rebounds from its lowest level since March 2020
A dramatic dollar reversal from a 20-year high prompts some short-covering around GBP/USD. Dovish expectations from the Fed, rising US bond yields and a risk-off mood should limit dollar losses. The gloomy economic outlook for the UK suggests that the recovery attempt is likely to be short-lived. The pair GBP/USD it has bounced from the […]
GBP/USD recovers slightly after falling to two-year lows near 1.1650
The pound weakened, among the worst performers in the G10. The dollar remains firm, although it cuts gains in the last hours. GBP/USD sets new lows in two years. GBP/USD is trading around 1.1680, firming below 1.1700 for the first time since March 2020. The pair posted a fresh low at 1.1642 before paring losses. […]
GBP/USD remains volatile after Powell’s Jackson Hole speech, remains above 1.1800
GBP/USD traded in a range of 1.1820-1.1900 following Powell’s Fed speech. The tone of Fed Powell’s speech was hawkish but cautious, trying not to derail the markets. GBP/USD Price Analysis: Raised towards 1.1900 as Powell finished his speech, but has erased those gains. The GBP/USD reels as Fed Chairman Powell takes the dais at the […]
GBP/USD no clear direction below 1.1850, waiting for Powell
GBP/USD remains directionless around 1.1800. DXY falls modestly, Treasury yields stable. US data is coming and then Powell’s speech. GBP/USD recovered after falling as low as 1.1775 and climbed as high as 1.1844, it is trading largely unchanged from Thursday’s close around 1.1820 ahead of the Federal Reserve Chairman’s speech and US data. Powell will […]
GBP/USD: Expect a break below 1.1730 on USD strengthening – ING
After posting small daily gains on Thursday, the GBP/USD has reversed its address. A break below 1.1730 is a distinct possibility if the dollar strengthens after Jerome Powell’s speech today in Jackson Hole. All eyes on Powell’s speech at the Jackson Hole Symposium “The pound should move mainly in line with the dollar’s reaction to […]
UK: We are working hard to develop options for more support on energy bills – Nadhim Zahawi
The UK Chancellor of the Exchequer Nadhim Zahawistated on Friday that “I’m working flat out to develop options for more support on energy bills“. “This will mean that the incoming Prime Minister will be able to get down to business and offer support to those who need it most, as soon as possible,” he added. […]