Can we get a 4th bullish day in a row on GBP/USD...
Sterling is still straddling round numbers vs the Buck and Euro at 1.3900 and 0.8700 in the absence of anything Pound specific to trade off, bar less deflationary BRC UK shop prices, while the single currency remains rangebound against the Greenback between broad 1.2100-1.2050 parameters with key declining trendline resistance above the big figure coming in circa 1.2109 today and almost aligning DMA/21 - WMA supports providing a cushion during small amounts of selling (currently at 1.2055 and 1.2053).
The dollar remains on brief frim footing. The fiscal, inflationary and funding/issuance implications are all overshadowing what was a decent 7 year note auction and dovish-leaning expectations for the upcoming FOMC.
Hence, the DXY has reset after another dip below 91.000 to eclipse yesterday’s best within a 90.897-91.127 range.
The dollar remains on brief frim footing. The fiscal, inflationary and funding/issuance implications are all overshadowing what was a decent 7 year note auction and dovish-leaning expectations for the upcoming FOMC.
Hence, the DXY has reset after another dip below 91.000 to eclipse yesterday’s best within a 90.897-91.127 range.
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