GBP/USD regroups from fresh bear cycle lows driven by the woes of Downing Street

Health Minister Javid and Finance Minister Sunak resigned almost simultaneously out of dissatisfaction with UK PM, Boris Johnson's leadership. ''Replacements were immediately appointed in the persons of Barclay and Zahawi, but given the ongoing unrest, the question is how long they can enjoy their new office,'' analysts at Rabobank said.

Nomura said on Wednesday it now expects sterling will slide in the coming months to its lowest level against the US dollar since 1985."We remain short GBP/USD in spot and now target 1.15 by end-July, towards 1.10 by end-September. With the U. becoming a key energy export partner for Europe this is leading to significant terms of trade shock to the benefit of USD.

Casting minds back over the monetary policy path to date at The Old Lady, since December, the BoE has lifted the Bank Rate five times already. The market is pricing in 130bps of hikes over the next three meetings , implying at least two meetings with 50bps hikes. In other politics, an escalating row over Northern Ireland's status following Brexit could upend British trade ties with the European Union is also a weight on the currency. ''Uncertainties regarding red tape associated with

and fear of a trade war with the EU over the Northern Ireland protocol are likely to be clouding the investment outlook,'' analysts at Rabobank said.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GBP/JPY fails to rebound from two-week low around 162.00 on Downing Street woesGBP/JPY fails to rebound from two-week low around 162.00 on Downing Street woes – by anilpanchal7 GBPJPY TrendFollowing UnitedKingdom Recession Politics
Source: FXStreetNews - 🏆 14. / 72 Read more »

EUR/USD Price Analysis: Bears brace for fresh multi-year low around 1.0250EUR/USD Price Analysis: Bears brace for fresh multi-year low around 1.0250 – by anilpanchal7 EURUSD Technical Analysis TrendFollowing ChartPatterns Majors anilpanchal7 Analyse des prix EUR/USD : les baissiers se préparent à un nouveau plus bas pluriannuel autour de 1,0250
Source: FXStreetNews - 🏆 14. / 72 Read more »

USD/CHF Price Analysis: Rallies toward the 50-DMA, squeezing double top shortsThe USD/CHF advances sharply for the third straight day, snapping two days of consecutive losses that dragged the major to print a fresh two-month low
Source: FXStreetNews - 🏆 14. / 72 Read more »

EUR/USD extends to fresh 20-year lows below 1.0200 ahead of FOMC minutesThe shared currency continued its collapse against the greenback, courtesy of recession fears in the Euro area, amidst an energy crisis that, if it ag
Source: FXStreetNews - 🏆 14. / 72 Read more »

NZD/USD Price Analysis: Bears have the upper hand, might aim to challenge YTD lowThe NZD/USD pair witnessed some selling during the early European session and extended the overnight retracement slide from the 0.6250-0.6255 supply z
Source: FXStreetNews - 🏆 14. / 72 Read more »

GBP/USD Technical Analysis: Sterling Price Set for CollapseDuring the last week\u0027s trading, the most prominent decline in the Forex market was the collapse of the GBP/USD pair towards the 1.1975 support level.
Source: Daily_Forex - 🏆 567. / 51 Read more »