GBP/USD reclaims 1.2700 after plunging towards multi-year-lows around 1.2690s By christianborjon GBPUSD Majors Macroeconomics Technical Analysis
aggressively throughout the year. In the FX space, the greenback remains in the driver’s seat, while risk-sensitive currencies like the GBP, the CAD, and the antipodeans fall. At the time of writing, the GBP/USD is trading at 1.2726 in the North American session.still cling to losses. China’s Covid-19 outbreak over the last two weeks in Shanghai threatens to extend to Beijing, as reported by Reuters. Also, Fed expectations of a 0.
Elsewhere, last week comments from Bank of England Catherine Mann prepared the case for a 50-bps rate hike in May. Nevertheless, with weaker than expected data in the previous week, analysts at Rabo bank wrote in a note that “on the heels of the retail sales plunge in March, it may be tough to convince the majority of the MPC to announce a move larger than 25 bps next month.
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