Pound Sterling Price News and Forecast: GBP/USD near-term bias shifts back in favour of bearish traders
|GBP/USD Forecast: Sterling set to resist dollar strength and push higher, buy opportunity?
"Nobody is safe until everybody is safe" – these words of unity from UK Prime Minister Boris Johnson and his colleagues in Germany and France have come after a cross-Channel row over vaccines and serve to calm nerves and supports sterling. Concerns about deliveries of inoculations have now subsided.
Even if the UK's immunization campaign somewhat slows down, it has reached nearly 50% of the population with at least one dose and the results are clear – cases and hospitalizations are falling. Moreover, London recorded no COVID-19 deaths on Monday – the first such feat in 2021. Read more...
GBP/USD Outlook: Near-term bias shifts back in favour of bearish traders
The GBP/USD pair had some good two-way price moves on the first day of a new trading week and was influenced by a combination of diverging forces. The British pound was supported by the optimism over a highly-successful vaccination distribution program and the easing of some lockdown restrictions in England. Apart from this, some cross-driven strength stemming from a sharp fall in the EUR/GBP and an intraday spike in the GBP/JPY provided an additional lift to the major. That said, sustained US dollar buying kept a lid on any further gains, rather prompted fresh selling at higher levels. Read more...
GBP/USD attempts a bounce above 1.3750 amid higher yields, US dollar
GBP/USD is looking to extend its bounce above 1.3750 in the European session, as the US dollar extends its rise in tandem with the Treasury yields. The US dollar trades at four-month highs against its main peers, taking cues from fresh leg higher in the Treasury yields across the curve, with the benchmark 10-year rates hitting 1.70% once again.
The returns on the market have resumed their uptrend, in the wake of higher inflation expectations, courtesy of a probable $3+ trillion infrastructure spending proposals likely to be announced by the Biden administration this Wednesday. Read more...
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