GBP/USD attracts some buying on Monday
The GBP/USD pair catches fresh bids on the first day of a new week and sticks to its intraday gains through the early part of the European session. Spot prices currently trade around the 1.2175-1.2180 region, up 0.30% for the day, and for now, seem to have snapped a two-day losing streak to a one-week […]
The Pound Sterling (GBP) holds onto gains
The Pound Sterling (GBP) holds onto gains inspired by the higher risk appetite of the market participants. The GBP/USD pair remains bullish despite the Office for National Statistics (ONS) reporting that United Kingdom factory data in August contracted for the second time in a row. UK firms operated on lower capacity as they aimed to […]
GBP/JPY jumps swiftly to 183.00
The GBP/JPY pair drives vertically to near the crucial resistance of 183.00 as the odds of a possible intervention by the Bank of Japan (BoJ) in the FX domain fade. Former top currency diplomat Naoyuki Shinohara said this weekend that the recent fall in the Japanese Yen is reflecting the economic fundamentals of Japan, which […]
Pound Sterling faces an intense sell-off
The Pound Sterling (GBP) remains on a bearish trajectory as investors worry about the UK’s economic outlook. The GBP/USD pair weakens further as a persistent Consumer Price Index (CPI) and a restrictive interest rate policy by the Bank of England (BoE) continue to accelerate the burden on households. The outlook for the GBP/USD pair worsened […]
GBP/JPY Consolidates Around 181.00
The GBP/JPY pair remains back and forth around 181.00 after a recovery move from 180.50 in the London session. The asset recovered confidently as the Bank of England (BoE) raises interest rates by 25 basis points (bps) to 5.25% on Thursday. This was the 14th consecutive interest rate hike by the BoE and interest rates at 5.25% are highest in the past 15 years. BoE Governor Andrew Bailey kept the door open for further policy tightening as the victory against stubborn inflation cannot be announced now. Out of the nine-member Monetary Policy Committee (MPC), BoE policymaker Swati Dhingra favored an unchanged interest rate decision. BoE Haskel and Mann supported for 50 bps interest-rate hike.
