SniperFx

Archives

  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • September 2022
  • August 2022
  • January 2022
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019

Categories

  • Analysis
  • Bonds
  • Crypto
  • Forex
  • Forex Trading
  • Ideas
  • Investing
  • News
  • Stocks
  • World
Subscribe
SniperFx
SniperFx
  • Bonds
  • Crypto
  • Forex
    • Forex Trading
  • Ideas
  • Investing
  • Stocks
  • World

Sterling gives up eight-week peak on profit-taking

  • admin
  • April 1, 2023

Sterling fell in European trade away from eight-week highs against dollar and on track for the first loss in three days on active profit-taking. 

The pound continues to be the top performing currency since the global banking crisis started three weeks ago due to strong confidence in the UK banking system.

GBP/USD fell 0.25% to 1.2309, with a session-high at 1.2341, after closing up 0.45% yesterday, hitting eight-week highs at 1.2349 following Bank of England Governor Andrew Bailey’s speech.

Bailey

BoE Governor Andrew Bailey said there’s still a need for multiple more rate hikes if signs of inflationary pressures persisted. 

Bailey asserted the need to stay vigilant of any signs of heavy inflation, which will require further policy tightening.  

However it was clear from this speech that he doesn’t see a threat to the financial stability in the UK as British banks maintain their flexibility and strong capital. 

Analysis 

The pound remains one of the strongest performing currencies in the G10 countries so far, with analysts linking the strength to the strong performance by British banks compared to European and US banks.

admin

Previous Article

USD Makes A Small Comeback Before Weekend Despite Slowing PCE Inflation

  • admin
  • April 1, 2023
View Post
Next Article

EURCHF: Watch For Price Reversal Near The Resistance Zone

  • admin
  • April 1, 2023
View Post
You May Also Like
View Post
  • Forex Trading

Gold Prices at Risk of Deeper Correction on Surging Real Yields, USD Strength

  • admin
  • May 28, 2023
View Post
  • Forex Trading

US Dollar under steam as debt ceiling debates are still ongoing

  • admin
  • May 23, 2023
View Post
  • Forex Trading

Gold Weekly Forecast Flight to Safety May Prompt Bullish Continuation

  • admin
  • May 21, 2023
View Post
  • Forex Trading

US Dollar (DXY) Weakens Against Major Currencies Despite Strong Job Growth

  • admin
  • May 8, 2023
View Post
  • Forex Trading

GBPUSD Price Forecast Pound Resilient Ahead of Fed

  • admin
  • May 3, 2023
View Post
  • Forex Trading

Silver Price Analysis XAGUSD struggles to break through 100-period SMA on H4

  • admin
  • May 1, 2023
View Post
  • Forex Trading

Mastercard launches Web3 user verification solution to curb bad actors

  • admin
  • April 29, 2023
View Post
  • Forex Trading

GBPUSD Forex Signal May Retest Last Week’s High of 1.2530

  • admin
  • April 10, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Categories
  • Analysis (33)
  • Bonds (70)
  • Crypto (90)
  • Forex (106)
  • Forex Trading (64)
  • Ideas (57)
  • Investing (61)
  • News (121)
  • Stocks (113)
  • World (200)
Recent Posts
  • ISS backs Toyota shareholder proposal on climate disclosure
  • Gold Prices at Risk of Deeper Correction on Surging Real Yields, USD Strength
  • US Dollar Weekly Outlook Will US Debt Ceiling Deal and Jobs Report Boost DXY Further
  • BTC’s Network Activity Has Started Recovering From Its May Lows
  • USDCHF double three Elliott Wave advance and next blue box area
SniperFx
  • Home
  • About Us
  • Contact
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
Forex & Crypto Updates

Input your search keywords and press Enter.