The pound fell below $1.47 to fresh five-year lows after key U.K. events today seemingly pushed further into the future the timing of a local interest rate hike. Meanwhile, BoE's March minutes voiced concern that sterlin…
The pound fell below $1.47 to fresh five-year lows after key U.K. events today seemingly pushed further into the future the timing of a local interest rate hike.
Meanwhile, BoE's March minutes voiced concern that sterling strength against the euro could weigh on already record low inflation. Sterling should also take cues today from a budget statement from Britain's finance chief that's due shortly. Downside risk for the pound is on the rise particularly ahead of an election in May that currently shows an elevated likelihood of ending with no majority winner or a hung parliament.
Such an outcome would risk a period of political instability that could further erode the value of the pound. GBP sellers want to hedge against the heightened risk of further pound deterioration while buyer also want to hedge, though in a way that allows for them to partake in favorable market moves.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
