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  • GBPUSD Soars as the Sunak Era Begins in the UK

    From dailyfx.com

    GBPUSD soared on Tuesday as the Rishi Sunak era officially began at 10 Downing Street on Tuesday. Sunak is the United Kingdom’s third PM in just two months, and markets will be hoping that the Sunak administration offers a steady hand as Britain faces mounting economic troubles. Markets have embraced the announcement of Rishi Sunak as the leader of the Conservative party, as the Pound continues to strengthen and long-end gilt yields fall. Eyes now shift to the budget proposal due at the end of the month, as well as the upcoming Bank of England meeting on November 3rd. In his first speech as Prime Minister, Sunak ... (full story)

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Don't get too excited
Long way to go to reach the high of May 2021
Sunak era may be shorter than you think and has little to do with GBPUSD soaring. All risk currencies soar against the U.S. dollar and a more probable reason for that may be the Europe getting done some very important agreements on the energy supply and energy prices. This is way more important than Sunak becoming U.K.’s PM.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
Quoting NotAtrader
Sunak era may be shorter than you think and has little to do with GBPUSD soaring. All risk currencies soar against the U.S. dollar and a more probable reason for that may be the Europe getting done some very important agreements on the energy supply and energy prices. This is way more important than Sunak becoming U.K.’s PM.
Agree. You are reading my mind. I just posted similar view.
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  • Story Stats
  • Posted: Oct 25, 2022 1:35pm
  • Submitted by:
     Newsstand
    Category: Technical Analysis
    Comments: 3  /  Views: 1,288

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