GBP/USD faces barricades around 1.1250 as hawkish Fed bets soar – by Sagar_Dua24 GBPUSD Fed BOE Bonds GDP
Soaring bets for a 75 bps rate hike by the Fed have trimmed risk appetite.has picked offers in the Tokyo session firmly as the risk-on mood has started fading. The kick-start of the US quarterly earnings season delivered a rebound move in S&P500 on Monday after a bearish Friday but has eased some gains now.
Meanwhile, political dram in the UK Prime Minister Liz Truss sacked Chancellor Kwasi Kwarteng last week has triggered political instability in the sterling region. Planning for cancellation of the proposed increase in corporate taxes to 25% from 2023 seems responsible for the removal of the UK Finance minister Kwarteng from her post.
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