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British Pound Technical Analysis: GBP/USD Nosedives After Fed Meeting
The British Pound has dropped to a fresh monthly low against the US Dollar after Fed Chair Jerome Powell endorsed the probability of higher rates and quantitative tightening. With rising inflation and an improvement in the employment rate, the Fed reiterated their intention to continue to reduce net asset purchases, bringing them to an end by March. Meanwhile, UK Prime Minister Boris Johnson remains a hot topic, adding additional pressure to the Sterling. Although the greenback currently remains the dominant currency for GBP/USD, economic data may still influence the trajectory of the imminent move. The Fed press ... (full story)
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