GBP/USD climbs above the 1.1000 figure on soft US dollar.

GBP/USD reached a daily high at 1.1074 due to the London Fix.US Initial Jobless Claims fell, cementing the case for further Fed rate hikes. GBP/USD Technical Analysis: Testing the 50% Fibonacci, once cleared, could rally towards 1.1210; otherwise, it could retest 1.0538.The GBP/USD advances for the third consecutive day as the global equities sell-off continues.Continue reading “GBP/USD climbs above the 1.1000 figure on soft US dollar.”

GBP/USD may face further downside risks .

The GBP’s recent decline has been dramatic. Wider deficits and bigger debt burdens need to be financed by foreign inflows – which may require further FX adjustment, according to economists at HSBC. UK’s structural concerns dominate.“The UK’s public finance position (in terms of relative debt dynamics) is going to worsen materially in the year ahead.Continue reading “GBP/USD may face further downside risks .”

GBP/USD: The pound remains vulnerable

The reasons for the recent pound’s sell-off are still on the table, so the currency remains extremely vulvnerable according to analysts at Rabobank. They point out the risk of GBP/USD hitting parity has firmed up. Key Quotes: “There has been a loose discussion in the market about the prospect of GBP/USD hitting parity for someContinue reading “GBP/USD: The pound remains vulnerable”

EUR/USD snaps five-day downtrend near 0.9650 with eyes on ECB’s Lagarde, US data.

EUR/USD prints the first daily gains in six around 20-year low.Markets consolidate recent moves amid light calendar, mixed headlines. EUR/USD picks up bids to add strength to the early Asian session rebound near 0.9650. Even so, the major currency pair remains sidelined as traders await the key catalysts while paring the latest losses at theContinue reading “EUR/USD snaps five-day downtrend near 0.9650 with eyes on ECB’s Lagarde, US data.”