EUR/USD 1.17359
0.003%
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0.248%
GBP/USD 1.35611
-0.088%
GBP/JPY 200.144
0.176%
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Romanias Ministry of Defense said on September 14 that a drone intruded into Romanian airspace on Saturday during a Russian attack on Ukrainian infrastructure near the border, forcing the country to scramble fighter jets. Defense Minister Ionut Mosteanu said an F-16 fighter pilot narrowly missed shooting down the drone, which was flying very low and then left Romanian airspace toward Ukraine. Romania, a member of the European Union and NATO, shares a 650-kilometer (400-mile) border with Ukraine. The Romanian Ministry of Defense said in a statement that two F-16 fighter jets, and later two Eurofighter jets, were scrambled on Saturday, and warned residents of Tulcea County in the southeast, near the Danube River and the Ukrainian border, to take cover.On September 14, Penske Media, the owner of Rolling Stone and Billboard, sued Google in a federal court in Washington, D.C. on Friday, accusing the latter of using its AI summary feature without permission and cutting website traffic. This is the first time that a major American publisher has filed a lawsuit against Googles AI-generated summaries. For months, several news organizations have said that these new features will divert users and erode advertising and subscription revenue. The lawsuit stated that AI summaries are currently displayed in about 20% of Google search results linking to its website, and the proportion is expected to continue to rise. As search traffic declines, the companys associated revenue will have fallen by more than a third from its peak by the end of 2024. Google responded on Saturday that AI summaries can provide users with a better experience and bring traffic to more different types of websites.According to the local governor: A fire broke out at the Kirish oil refinery in Russia after the wreckage of a drone fell, and the fire has now been extinguished.On September 14th, US media reported on the 13th that FBI Director Kash Patel was questioned for mistakenly announcing a "suspect in custody" in the assassination of Charlie Kirk, a political ally of US President Trump. Following the shooting on the 10th, local police in Utah quickly arrested one person, and Patel announced the arrest on social media. However, it was later confirmed that police had arrested the wrong person, with the shooter still at large. Patel will face questioning from lawmakers about this case and broader issues at a congressional hearing next week.On September 14th, five US F-35 fighter jets were spotted landing in Puerto Rico on Saturday, just as Trump ordered an additional 10 stealth fighter jets to the Caribbean last week to combat drug cartels and address tensions with Venezuela. Photos show the aircraft landing at the former Roosevelt Roads military base in Ceiva, Puerto Rico. US helicopters, Osprey transport aircraft, other transport planes, and US military personnel have also been spotted at the base in recent days. When asked about the situation, a Pentagon duty press officer stated, "We do not have any force deployment changes to announce at this time." Sources reported last week that the Trump administration had ordered the deployment of 10 F-35 fighter jets to Puerto Rico to carry out operations against drug cartels.

GBP/USD is Testing 1.3020 and is Under Pressure at the Hourly Resistance Level

Drake Hampton

Apr 22, 2022 09:55

GBP/USD is flat in Asia at 1.3029, pressured by an hourly barrier, and has traded in a narrow range between 1.3022 and 1.3035. However, the pound has been losing ground against a strong euro, while remaining relatively stable against the US dollar in the late afternoon on Wednesday.

 

Overnight, investors focused on hawkish comments from European Central Bank officials, which fueled speculation that the central bank will soon boost interest rates, sending the euro to a one-week high. It was also solid in anticipation of French President Emmanuel Macron's reelection victory on Sunday following yesterday's debate.

 

Joachim Nagel, president of Germany's Bundesbank, joined a chorus of experts in predicting an ECB rate hike in the third quarter. Meanwhile, traders have remained focused on the Bank of England's future monetary policy course.

 

The Bank of England modified its rhetoric last month on the necessity for additional interest rate hikes while emphasizing the economy's downside risks. Catherine Mann, a Bank of England monetary policymaker, provided an in-depth and counterbalancing assessment of the MPC's issues.

 

"The critical aspect was the need to combat inflation," analysts at Westpac said, adding that the latter was viewed as more worrying and exhibiting signs of spreading to pricing schemes (second-round effects), including front-loaded rate hikes. "While tightening may be reconsidered if demand deteriorates, the converse may also be true if the economy continues to perform well and inflation remains persistent.' By the end of 2022, money markets are pricing in 160 basis points of BoE rate hikes.

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