EUR/USD 1.15309
0.026%
Gold 4050.88
-1.284%
Oil 83.139
0.594%
USD/JPY 159.176
-0.208%
GBP/USD 1.34761
0.081%
GBP/JPY 214.510
-0.118%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Turkish Foreign Minister: Today, I spoke with Iranian Foreign Minister Araqchi, and we discussed the latest developments in the current (US-Iran) negotiation process. Turkey will continue its efforts to end the regional conflict and establish lasting peace.Trump Media has launched the Truth API, a paid service that allows subscribers to access posts on Truth Social earlier and in real-time than regular users. The service, costing up to $100,000 per month, is primarily targeted at trading companies and businesses.On August 2nd, Iranian Foreign Minister Araqchi held separate phone calls with Pakistani Army Chief of Staff Mohammad Munir and Turkish Foreign Minister Fedan Ibrahim on August 1st, local time. During the calls, the parties discussed the latest regional situation and exchanged views on the consequences of the United States aggressive and destabilizing actions, as well as the escalating regional tensions and security risks. Araqchi warned the US military against any risky actions and emphasized that Iran is fully prepared to safeguard its national sovereignty, security, and territorial integrity, and will resolutely respond to any infringement.According to Saudi media alhadath, the Iraqi Armed Forces Commander-in-Chief has ordered the establishment of a Joint Security Committee, instructing it to fulfill its responsibilities in protecting sovereignty and good neighborly relations.On August 2, Irans Islamic Revolutionary Guard Corps (IRGC) stated that its air force launched multiple ballistic missiles that morning at a U.S. F-35 fighter jet maintenance hangar and tarmac at the Azraq Air Base in Jordan, in retaliation for the U.S. attack on Qeshm Island. The IRGC claimed the attack destroyed three F-35 fighter jets and severely damaged three others.

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

 GBP:USD.png

 

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.


Suggestion