GBP/USD bears poke 1.1200 amid firmer DXY, UK’s political jitters – by anilpanchal7 GBPUSD RiskAppetite Politics Inflation CentralBanks
After losing Kwasi Kwarteng, the ex Chancellor, UK PM Liz Truss had to forgo Interior Minister Suella Braverman, over a "technical" breach of government rules, per Reuters, which in turn raise questions on the future life of the present Tory government team. Even so, the Tory Chief Whip and Deputy survived Wednesday’s voting in the British Parliament.
Elsewhere, a jump in the US Treasury yields and risk-negative catalysts enables the US Dollar Index regain its upside trajectory and weigh on the GBP/USD prices. That said, US 10-year Treasury yields refreshed a 14-year high above 4.0% as market players rushed towards the risk-safety. The same weighed on the Wall Street and S&P 500 Futures afterward.and Canada, as well as the hawkish Fed bets and pessimism conveyed by the Fed’s Beige Book.
As per the CME’s FedWatch Tool, markets price in around 95% chance of the Fed’s 75 bps rate hike in November. The hawkish Fed wagers seem to justify the upbeat comments from the Federal Reserve policymakers and raise fears of economic slowdown. Recently, Chicago President Charles Evans said that need to make sure inflation pressures don't broaden further, which in turn suggests more rate hikes despite the recession woes.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
While ETHW Has Lost 35% in 2 Weeks, PoW Network’s Defi TVL Swelled by More Than 1,200% – Defi Bitcoin NewsWhile $ETHW has shed 35% in USD value, the crypto network’s token economy and decentralized finance (defi) ecosystem has swelled by more than 1,200%.
Read more »
GBP/USD Outlook: Bulls move to sidelines amid UK political uncertainty, modest USD strengthGBP/USD Outlook: Bulls move to sidelines amid UK political uncertainty, modest USD strength – by hareshmenghani GBPUSD Fed Inflation BOE Currencies
Read more »
GBP/USD bears attack 1.1300 despite hot UK inflationGBP/USD extends pullback from a short-term crucial resistance after downbeat UK inflation data, published during early Wednesday morning in London. In
Read more »
GBP/USD eyes momentum above 1.1360 amid soaring market mood, UK CPI in focusThe GBP/USD pair is facing barricades around the immediate hurdle of 1.1360 in the Tokyo session. The hurdles around 1.1360 seem less powerful amid es
Read more »
NZD/USD bulls flirt with 0.5700 amid steady DXY, hawkish bias for RBNZNZD/USD bulls struggle to keep the reins on early Wednesday, printing mild gains around 0.5700 during the three-day uptrend. In doing so, the Kiwi pai
Read more »