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June 15 - According to the Missouri Highway Patrol, a plane crashed in Butler, Missouri, at approximately 11:35 a.m. local time on June 14, killing all 12 people on board. The P750 aircraft, carrying 11 parachutists and one pilot, had just taken off from Butler Memorial Airport. The National Transportation Safety Board will lead the investigation into the cause of the crash and will release further updates.According to sources who spoke to Israels Jerusalem Post, Iran is considering suspending its missile launches against Israel.On June 15th, former Israeli Ambassador to the US, Aaron Pincus, stated that Iran has become stronger and more confident since the war, and the regional balance facing Israel has clearly shifted unfavorably. He pointed out that by mid-June 2026, Iran will be geopolitically exponentially stronger than it was on the day the war broke out (February 28th), and has altered the regional balance during the war. Pincus warned that Iran has "upended the strategic balance," not only attacking the Arab Gulf states but also driving a wedge between Israel and the United States. He stated that how the post-war balance of power between Israel and Iran will develop remains to be seen, but "it will certainly be different from what it was in February, and less favorable to Israel than before."On June 15, the Iranian Foreign Ministry strongly condemned the Israeli regimes terrorist act of military aggression against a residential area in the southern suburbs of Beirut this afternoon (June 14). The attack has resulted in casualties among Lebanese citizens. The Iranian Foreign Ministry stated that this terrorist crime not only blatantly violated Lebanons national sovereignty and territorial integrity but also seriously contravened the ceasefire understanding reached between Iran and the United States on April 8. Iran reiterated that the US government bears direct responsibility for the Israeli regimes crimes and repeated violations of the ceasefire, and emphasized that it will take all necessary measures to exercise its legitimate right to self-defense. Iran warned that the dangerous consequences of the Israeli regimes frivolous actions on regional peace and security should be borne by the United States and the Israeli regime.Iranian Parliament Speaker: The enemy can never defeat any resistance front alone.

GBP/USD seeks to regain 1.2300 as higher UK CPI strengthens the case for a rate hike by the Bank of England and the USD retreats

Alina Haynes

Mar 23, 2023 15:00

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During the Asian session, the GBP/USD pair attempts to reclaim the resistance level at 1.2300. Following a vertical correction, the Cable has recovered to near 1.2260 as the market anticipates that the absence of hawkish interest rate guidance from Federal Reserve (Fed) chair Jerome Powell while addressing the economy at the monetary policy meeting indicates that the Fed is close to ending its policy-tightening spell.

 

S&P500 futures have generated some gains in the Asian session following a decline on Wednesday as a result of Fed Powell's confirmation that the fight against intractable U.S. inflation will continue. Chairman of the Federal Reserve Jerome Powell has ruled out rate cuts in 2023, citing the difficulty of controlling inflation. In addition, US Treasury Secretary Janet Yellen's statement that the government "does not plan to insure all uninsured bank deposits" heightened fears of a banking sector collapse.

 

Following a recovery move, the US Dollar Index (DXY) has retreated on expectations that additional credit tightening to protect banking institutions will reduce overall demand, economic activity, and inflation. In the interim, the demand for US government bonds has increased as a result of expectations that US Janet Yellen will end further policy restrictions and reduce support for all bank deposits.

 

On the front of the United Kingdom, the Pound Sterling is likely to maintain its strength as the Bank of England (BoE) is scheduled to raise rates for the eleventh consecutive time. Governor Andrew Bailey of the Bank of England is expected to raise interest rates by 25 basis points (bp) in response to rising food and non-alcoholic beverage prices, as well as rising energy costs, which have contributed to inflation in the United Kingdom.

 

In the midst of global banking turmoil, the Bank of England's (BoE) interest rate decision will be difficult, as policymakers were divided over whether to raise rates further or maintain them at their present level.


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