GBP/USD extends four-day downtrend to 1.2400 despite Easter Monday holiday – by anilpanchal7 GBPUSD BOE Fed RiskAppetite Inflation
GBP/USD takes offers to refresh intraday low, extend the previous week’s pullback from 10-month high.BoE Governor Bailey’s speech will be eyed closely amid receding hawkish bias from major central banks.
GBP/USD takes offers to refresh the intraday low near 1.2400 during early Easter Monday morning in London. In doing so,pair drops for the fourth consecutive day as the US Dollar recovers amid the risk-off mood. Adding strength to the pullback moves could be the hawkish hopes from the US Federal Reserve , versus recent doubts about the Bank of England’s next move.
With this, the CME’s FedWatch Tool suggests 66% odds of the 0.25% rate hike in May, versus 55% before the US jobs report. Against this backdrop, the S&P 500 Futures remains directionless around 4,130, after a two-day uptrend, whereas the US 10-year and two-year Treasury bond yields remain pressured near 3.37% and 3.95% respectively. In doing so, the benchmark bond coupons extend the previous day’s losses and portray the market’s rush toward the risk-safety amid economic slowdown fears.
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