GBP is outperforming on crosses as BoE repricing shifts with Fed – Scotiabank
|The Pound Sterling (GBP) is trading flat against the US Dollar (USD) and outperforming all of the G10 currencies on the crosses, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
GBP is flat vs. USD
"The outlook for relative central bank policy is offering some stability for GBP, given the softening of easing expectations for both the BoE and Fed. Domestic releases have been limited, and fiscal concerns remain elevated as markets eye the softening of demand for gilts."
"The technical picture has shifted bearishly following losses on Wednesday and Thursday. The 50 day MA (1.3468) has been clearly broken, and the GBP is threatening a break of the early September low just above 1.33. We look to a near-term range bound between 1.3320 and 1.3420."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.