USD relatively static following the release of the latest inflation print which rose to a 6-yr high, while initial GBP gains have been capped amid uncertainty over Brexit legislation vote.
Large speculators holding tight with large AUD short; GBP, EUR, and oil net-longs all continue to be trimmed, copper longs remain winners.
GBP saw a muted reaction after public expectations of UK inflation were left unchanged. GBP traders will be looking out for next week’s CPI report which is expected to rise to 2.5% from 2.4%
Sterling‘s recent revival could be halted in the short-term as cabinet Brexit talks turn sour.
Turkish Lira plunge continues having failed to find much reprieve from yesterday’s 300bps rate hike, while GBP gets a lift after better than expected retail sales.
It’s been a volatile day in GBP/JPY, with the pair rushing down to fresh two-month lows as driven by both GBP weakness and JPY strength. But with prices now finding resistance at a familiar Fibonacci […]
Sterling continues to fall – hitting a five-month low against a resurgent US dollar – after the latest inflation readings came in marginally lower than expected, leaving GBP hawks floundering.
As a strong USD and rising oil prices continue to dominate trading, IG client sentiment data are suggesting weakness for GBP, gold and bitcoin.
The USD-index continues to hold onto its gains amid reduced fears of a trade war between the US and China, while GBP is on the backfoot amid Snap Election chatter.
USD underperforms this morning following as inflation figures disappoints, while GBP as rate hike bets unwind following neutral BoE hold.