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Forex Daily Analysis by kalaivanan

Title : British Pound at Clear Risk as Positions Stretched and Gains Slowing

 

Posted : 23 minutes ago

Symbol
Signal
Entry
Target
Stop Loss
Current Price
EURHKD
SELL
10.7122
10.7022
10.7172
10.01868

Description

The British Pound was the only major currency to strengthen against the US Dollar in a holiday-shortened week of trading, but can it continue higher? The high-flying Sterling will need support from the Bank of England to hold near multi-year peaks in the week ahead. A strong wave of domestic economic data drove the lion’s share of British Pound gains, and indeed Sterling strength coincided with a big improvement in UK bond yields. The spread between the UK and US 2-year government bond yields stands at its largest in three years. It’s with that in mind that we look for any surprises out of upcoming Bank of England Minutes as a potential catalyst for big GBP moves. The BoE released no details in the policy announcement following its April 10 meeting, and we can only speculate as to whether it remained a unanimous decision to keep rates and Quantitative Easing levels unchanged. And though officials would not have final UK unemployment figures released six days later, it will be interesting to hear whether labor market improvements could force the bank to tighten policy ahead of expectations.

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Copyright © 2017 www.tradebilla.com. All rights reserved. Version 2.50

 

Copyright © 2017 www.tradebilla.com. All rights reserved. Version 2.50