The Pound Sterling falls below 1.3150 against the US Dollar after sticky US core PCE inflation. A decline in market expectations for the Fed’s large interest rate cuts supported the US Dollar. The policy-easing spell from the BoE is expected to be slower than that of its major peers. The Pound Sterling (GBP) extends its two-day losing spree…
What is the Surge in Gold Saying About the US Dollar? With XAUUSD topping 2500 to set a new record high on Friday, the question is whether this is a speculative bubble or is there more to the surge in the precious metal? When I read that Costco has generated an estimated $100 million…
The past few weeks highlighted the volatility of global financial markets and how quickly investor sentiment can shift. The sharp selloff in US markets, driven by fears of an impending recession, now appears significantly overdone in light of last week’s robust rebound. Strong retail sales data was a key factor in this turnaround, showing that…
GBP/USD attracts some sellers on Monday amid a modest USD uptick. Geopolitical risks turn out to be a key factor benefitting the Greenback. Dovish Fed expectations should cap the buck and limit further downside. The GBP/USD pair kicks off the new week on a weaker note and for now, seems to have stalled a two-day-old…
Summary The Bank of England (BoE) joined the growing group of G10 central banks that have eased monetary policy, by delivering an initial 25 bps policy rate cut to 5.00% at today’s monetary policy announcement. The guidance from the BoE’s announcement was also somewhat cautious, for now likely arguing against a steady series of rate…
The British pound is lower on Thursday. GBP/USD is trading at 1.2683 in the North American session at the time of writing, down 0.29% on the day. The Bank of England held rates at today’s meeting, as expected. There are no releases out of the US today. Bank of England stays pat There were no…
EUR/GBP is climbing on Friday after a dip to the 0.8400 handle. ECB soothing talking points are helping to recover sentiment, but only slightly. BoE rate call looms ahead next week, but rate moves not expected yet. EUR/GBP dipped to a fresh 22-month low on Friday, tapping 0.8400 before finding a thin recovery that still…
The Pound Sterling drops after facing selling pressure near 1.2800 due to multiple tailwinds. A soft UK inflation outlook could prompt the BoE to start unwinding higher interest rates. The US Dollar recovers amid uncertainty ahead of the US core PCE price index. The Pound Sterling (GBP) corrects to 1.2750 against the US Dollar (USD)…