May 10, 2021 08:18 GMTForex News
GBP/USD has bounced as the BOE upgraded its outlook and horrible US jobs figures.
UK GDP and US consumer figures promise another busy week in cable.
Early May’s daily chart shows bears are gaining some ground.
The FX Poll is pointing to short-term falls before and upswing later.
Something is more than nothing – the Bank of England monetary policy tweak has pushed up the pound, while concerns about road bumps in the US economy have kept the dollar from storming the board. Can the upswing continue? Economic data has rising prominence as covid concerns fade on both sides of the pond.
Bank of England slows crisis bond buying as Haldane bids for fewer purchases
David Goodman, Bloomberg News BC-BOE-Slows-Crisis-Bond-Buying-as-Haldane-Bids-for-Fewer-Purchases , Bloomberg
The Bank of England slowed its emergency bond-buying and signaled itâs on course to end that crisis support later this year as a strong rebound takes hold across the economy with the removal of pandemic restrictions.
Officials, led by Governor Andrew Bailey, said the U.K. should recover its pre-coronavirus level of output at some point in 2021 as the countryâs rapid vaccination drive clears the way for a full reopening by June. The reboundâs strength convinced even outgoing Chief Economist Andy Haldane to cast a sole minority vote to cut the target for bond purchases.
May 06 2021, 10:23 PM
May 06 2021, 4:50 PM
May 06 2021, 10:23 PM
(Bloomberg)
(Bloomberg)
The Bank of England slowed its emergency bond-buying and signaled itâs on course to end that crisis support later this year as a strong rebound takes hold across the economy with the removal of pandemic restrictions.
Officials, led by Governor Andrew Bailey, said the U.K. should recover its pre-coronavirus level of output one quarter earlier than previously forecast, as the countryâs rapid vaccination drive clears the way for a full reopening by June.
The reboundâs strength convinced outgoing Chief Economist Andy Haldane to cast a sole minority vote to cut the target for bond purchases.
The Euro Pound (EUR/GBP) exchange rate is heading higher today following hopes that the Eurozone’s vaccine rollout will ramp up enough to support the bloc’s economic recovery.
At the time of writing the EUR/GBP exchange rate is trading at around £0.8689 as the UK digests the recent announcement from the Bank of England (BoE) that chief economist Andy Haldane is stepping down.
Euro (EUR) Supported by Eurozone Vaccine Rollout Hopes
The Euro has been heading higher against the Pound today as hopes that the Eurozone economy could recover by the end of the year boost’s EUR.
April 14, 2021 - Written by Ben Hughes
Optimism about Britain’s coronavirus recovery outlook is keeping the British Pound to US Dollar (GBP/USD) exchange rate trending with an upside bias today, as investors sell the US Dollar again. The US Dollar’s strength from earlier in the week has already faded as the latest US inflation data has done little to support the hawkish bets of markets, and investors are now awaiting coronavirus news and more US data.
Last week saw GBP/USD briefly surge to its best levels in a fortnight, but ultimately slide from 1.3830 to 1.3706 as the US Dollar benefitted from Sterling’s own broad losses.