GBP/USD Clinches Fresh 2-Month Highs
The pair shows indecision at the start of the week, but manages to post new two-month highs during the European session
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The pair shows indecision at the start of the week, but manages to post new two-month highs during the European session
The pair rose on Friday due to high Eurozone inflation and poor Non-Farm Payrolls from the US, but today it returns to negative territory
The pair faces renewed pressure at the start of European trading and heads towards a negative week, weighed by Wednesday’s hawkish Fed minutes
Introduction The minutes from the Fed's December meeting indicate that members are concerned over surging inflation and that they also feel that the job market is near full employment. They also suggest that the central bank's balance sheet is due to be normalised, with the intentional reduction of Fed bond holdings. The runoff is likely after the Fed kicks off with its hiking cycle. Moreover, the Fed's acceleration of tapering…
The US Dollar deflates following its Monday rally, allowing the pair to rebound today, ahead of key events – mainly form the US
The week started with losses for the pair, which consolidates today, but could not avert new nearly two-year lows
The USDJPY weekly chart has had five weeks of gains since its November low (aqua ellipse). One of the reasons for this is that the JPY is considered a haven. The fact that it has been depreciating against the USD indicates a risk-on sentiment. Given this, it is no surprise that equity markets had a strong December. However, we note that the currency pair's RSI has moved into an overbought…
King Dollar dominated the first trading of the year and the pair remains soft after yesterday’s drop
The pair started the new year on the defensive, following two solid weeks, but finds support at the start of the European session
The pair finished December and the full 2021 with profits and makes an upbeat start to the new year, extending the four-week profitable streak
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