Ready to Get Started?
Start here. Join over 12M Libertex users around the world!
The Pound unimpressed by a nothing budget- GBP/USD not much changed
As the dust settles on the outcome of the UK budget yesterday, many people we speak with are rather unimpressed by the contents of that Autumn statement. Whilst it did not deliver anything really damaging, it did absolutely nothing to address the core problem for UK PLC. That is rising debt and debt interest. Consequently, UK bond (GILTS) yields are not materially lower than they were ahead of the Budget.
Granted the GBP/USD did not suffer any fallout, but in truth that was all about the dollar yesterday and not the Pound itself. So, the GBP/USD did climb last night, but it could not get above 1.3340 and it is the same story today. The GBP/USD closed last night at 1.3327. The range seen so far today has been covered by 1.3303 and 1.3336.
However, the fish we are really looking to fry this morning is not the GBP/USD so much as it is the EUR/GBP, which we shall cover in the very next update. Meantime, the GBP/USD is currently trading at 1.3313
Market News
All News-
EUR/USD rebounds from a test of 200 week moving average and here is why
Earlier this afternoon the EUR/USD did briefly trade below its 200 week moving average, which was still in place at 1.1108. The Euro skidded to set a...
-
Nasdaq 100 opens in the red as GOOGL sinks
The US stock markets have just reopened and it has been a lower start to the day for the Nasdaq 100. Whilst we do not yet have an exact opening price...
-
ECB leaves monetary policy unchanged- EUR/USD slips
The eagerly awaited monetary policy decision from the European Central Bank is now known and as expected the ECB have sat on their hands and kept all...