Jump to content

British Pound (GBP) Latest: GBP/USD Struggles Despite UK PMIs


Recommended Posts

British Pound (GBP) Latest: GBP/USD Struggles Despite UK PMIs

Jul 22, 2022 | DailyFX
Justin McQueen, Strategist

BRITISH POUND RATE ANALYSIS AND TALKING POINTS

  • GBP Struggles Despite UK PMIs
  • Range Trading the State of Play into Fed

GBP STRUGGLES DESPITE UK PMIS

Much like the Euro, the Pound continues to struggle with the currency shedding 0.5% against the US Dollar. While the flash PMIs for July were better than expected, they have done little to support GBP, further emphasising that it is difficult to get bullish on the currency against the USD. What’s more, the latest YouGov poll has placed Liz Truss (62%) firmly in the lead against Rishi Sunak (38%) in the Tory Leadership race. To some extent, this will add concerns for GBP, given that Liz Truss had recently championed the BoJ’s policy for “controlling” inflation. A challenge to the BoE’s independence in favour of the BoJ’s stance is the last thing you want to hear if you are a Sterling bull.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,278
    • Total Posts
      90,906
    • Total Members
      41,389
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    stephenxyz
    Joined 06/02/23 14:41
  • Posts

    • Charting the Markets - February 6, 2023 FTSE 100, DAX and S&P 500 tiptoe lower following strong US jobs report. EUR/USD and GBP/USD are topping out while EUR/GBP rallies. And gold, Brent crude, and natural gas head lower, as payrolls strengthen the dollar.                         This is here for you to catch up but if you have any ideas on markets or events you want us to relay to the TV team we’re more than happy to.
    • Natural gas has been in a consistent downtrend over recent months, and Joshua Mahony expects to see this decline continue. Josh therefore favours a short position, with a stop-loss at 2630 and target of 2232. He also looks back at the recent EUR/USD, USD/JPY, aluminium, and USD/CAD trades. Joshua Mahony | Senior Market Analyst, London | Publication date: Monday 06 February 2023           
    • What do we now know about the economic outlook given the meetings this week at the Federal Reserve (Fed), Bank of England (BoE) and European Central Bank (ECB)? IGTV’s Jeremy Naylor caught up with foreign exchange analyst Richard Snow, from Daily FX, who discussed the potential continuation of the long EUR/USD trade. Jeremy Naylor | Writer, London | Publication date: Friday 03 February 2023   
×
×
  • Create New...