EUR/GBP consolidates biggest daily gains in two weeks inside bullish chart formation. Reports that BOE could extend bond-buying triggered GBP’s immediate strength. 200-SMA adds strength to 0.8735 support confluence, oscillators also favor … [Continue reading]
EUR/GBP advances towards 0.8900 as focus shifts to ECB Lagarde’s speech/UK data
EUR/GBP is aiming towards 0.8900 as BOE’s liquidity infusion plan has violated the price stability agenda. The BOE has temporarily paused corporate bonds sale and is purchasing index-linked gilts. On Wednesday, ECB Lagarde’s speech and UK data will … [Continue reading]
Crypto exchange Bittrex fined $24 million by US Treasury for sanctions violations
According to the US Treasury, Bittrex exchange failed to stop sanctioned individuals from the Crimea region of Ukraine, Cuba, Iran, Sudan, and Syria. Bittrex accumulated over 116,421 sanctions violations between March 2014 and December 2017. In … [Continue reading]
BoE accepts 1.363 billion GBP of offers in daily long-dated gilt purchase
The Bank of England (BoE) accepted 1.363 billion sterling of offers in the daily purchase operation of conventional long-dated gilts, Reuters reported on Tuesday. The BoE rejected 47.6 million GBP of offers in the same operation. Market … [Continue reading]
GBP/USD to see a decisive break below the 1.10 level – ING
More turmoil in the UK bond market has seen the Bank of England (BoE) step in with another emergency measure, this time to support battered inflation-linked bonds. However, economists at ING expect the GBP/USD pair to slip under the 1.10 … [Continue reading]
Downside risks for sterling remain high – Commerzbank
The Bank of England (BoE) announced a temporary pause to corporate bond sale operations this week. However, the British pound is set to remain under downside pressure, economists at Commerzbank report. Stress on the gilt market “The stress on the … [Continue reading]
RBNZ Governor Orr: Reiterates more work to do to reduce inflation
RBNZ Governor Orr has reiterated that there is more work to do to reduce inflation. Meanwhile, there has been a double bottom in ND/USD that could be significant, at least for the Asian day ahead on Wednesday. A break of the … [Continue reading]
Forex Today: Dollar keeps rallying on fear
What you need to take care of on Tuesday, October 11: The American dollar extended last week’s momentum and rose on Monday against most of its major rivals as risk aversion dominated financial boards. On the one hand, the dismal mood was backed by … [Continue reading]
USD/JPY hovers around 145.70, shy of YTD highs as another BoJ intervention looms
USD/JPY marches firmly at around the 145.70s area as threats of Japanese intervention loom. Last week’s US employment report justifies the Fed’s case to go 75 bps in the November meeting. Fed’s Evans is optimistic that the Fed might slow down … [Continue reading]
AUD/USD to fall towards 0.60 after RBA’s dovish decision – MUFG
The Reserve Bank of Australia’s (RBA) surprise decision to slow the pace of tightening by delivering a smaller 25 bps hike weighed on the aussie. Economists at MUFG Bank expect the AUD/USD pair to challenge the 0.6000 level. RBA policy update … [Continue reading]