GBP/USD bulls could be about to take over from fresh bear cycle lows – by fx_ross GBPUSD DollarIndex Currencies Fed BOE
President Thomas Barkin said on Tuesday that the United States is facing "post-war-like" inflation. The comments followed the speech from Fed Chair Jerome Powell at the Jackson Hole central banking symposium in Wyoming late last week that shut left the door wide open for ongoing rate hikes into mid-2023, which prompted a wave of dollar strength. Meanwhile, economic news remained grim with overnight data showing economic activity in China.
''The UK is facing months of astoundingly high inflation levels faced by a period of disinflation during potentially 5 quarters of negative GDP growth.''could print as low at 1.14 on a 1 to 3-month view. This assumes a continued period of broad-based USD strength.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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