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The Fed’s unexpected dovish pivot is a clear signal that officials want to shift policy in time to engineer a soft landing; in other words, they are prioritizing growth over inflation.
Cable faced selling pressure today thanks to a revival in the US Dollars haven appeal. Looking ahead and developments around the US Dollar is likely to be the major driving force of GBPUSD for the rest of the week.
The Yen enjoyed some strength today as Nikkei Asia broke a story that the BoJ are debating a further tweak to YCC policy. Will the BoJ follow through and what does that mean for USD/JPY?
GBP/USD faced a trendline rejection and renewed selling pressure making a return to recent lows. Are we in for fresh lows or a period of consolidation ahead of Central Bank Meetings?
The US Dollar Index faced selling pressure today as US Yields retreated from recent highs. GBPUSD benefitted with a deeper recovery for Cable looking more likely. Can UK Employment data help facilitate a trendline break?