-
Pound’s Six-Day Rally Screeches to Halt on Resurgence of US Dollar
The pound sank more than 2% as traders piled back into the dollar on bets that the Federal Reserve will stick to hiking interest rates. Sterling fell as low as $1.1227, snapping six days of gains, its best streak since April 2021. The move was led by the greenback, as markets faded the prospect of the Fed pivoting to a more dovish stance following better-than-estimated US data and policy maker comments. The pound remains significantly above its all-time low reached on Sept. 26, when it crashed due to concerns over the new UK government’s fiscal plans. Prime Minister Liz Truss has since rowed back on a proposal to ... (full story)
- Comments
- Subscribe
-
- Older Stories
-
From sprott.com|Oct 5, 2022Gold fell $50.43 (or -2.95%) to close at $1,660.61 for the month. After several tests over the past few years, gold finally fell below the $1,700 support level as the U.S. dollar ...
-
From @fxmacro|Oct 5, 2022tweet at 11:40am: SAUDI OIL MIN: REAL SIZE OF CUT IS ABOUT 1-1.1M B/D tweet at 11:41am: SAUDI ENERGY MINISTER SAYS WE DONT KNOW HOW THE RUSSIAN OIL PRICE CAP WILL WORK
-
From mishtalk.com|Oct 5, 2022The September 2022 Services ISM® Report On Business® is reasonably strong as expected in this corner but the comments ring true to what's happening. Key Points • “The Supplier ...
-
- Newer Stories
-
From zerohedge.com|Oct 5, 2022|1 commentWhat do credit traders know that equity traders are ignoring? While equity prices had risen for the last two days, dragged higher by the market's melt-up, Credit Suisse credit ...
-
From zerohedge.com|Oct 5, 2022|1 commentAhead of Friday's big number, and following last month's dismal print (under its new model regime) which dramatically under-predicted the payrolls print in August, ADP was ...
-
From financemagnates.com|Oct 5, 2022The volume of forex futures and options traded on Chicago Mercantile Exchange’s (CME) CME Globex hit an all-time-high monthly volume in September. Year-over-year, the average ...
- Story Stats
- Posted: Oct 5, 2022 12:52pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 912
