Logo-color Logo-white

The British Pound weakened significantly after BoE delivered a 25bps rate cut. The policy decision was more dovish than anticipated, primarily due to the unexpected shift in the MPC voting split. Catherine Mann, previously one of the most hawkish members of the committee, reversed course and joined Swati Dhingra in voting for a more aggressive […]

The post Sterling Tumbles on BoE’s Dovish Rate Cut appeared first on Action Forex.

previous

Sterling Awaits BoE Guidance Amid Stagflation Concerns; Yen Leads FX Markets

next

Yen Rises Further as IMF Backs Gradual BoJ Tightening; Dollar Awaits NFP Impact

Read More

Euro Tumbles Amid Political Uncertainty, Market Eyes FOMC Dot Plot and US CPI This Week
10/06/2024

Euro Tumbles Amid Political Uncertainty, Market Eyes FOMC Dot Plot and US CPI This Week

In holiday-thinned Asian trading today, Euro’s sharp decline was the focal point. Investors’ reaction to European Parliament election results was overwhelmingly negative. The far-right’s significant gains have sparked concerns, driving the common currency through key support level against both Sterling, and a near term support again Dollar. This technical development suggests further downside risks for […]
Yen and Swiss Franc Skyrocket Amid Lower Treasury Yields and Market Cautiousness
04/06/2024

Yen and Swiss Franc Skyrocket Amid Lower Treasury Yields and Market Cautiousness

Japanese Yen and Swiss Franc are seeing significant upward momentum today. As news flow has been very slow, these safe-have currencies’ are likely partly supported by the extended decline in benchmark treasury yields across the US and Europe. This movement also suggests an underlying risk aversion among investors, although the downturns in European indices and […]
Yen Rebounds on Ueda’s Openness; Euro Starting to Break Down
21/11/2024

Yen Rebounds on Ueda’s Openness; Euro Starting to Break Down

Yen rebounded broadly today as market participants interpreted comments from BoJ Governor Kazuo Ueda as a potential signal for a rate hike in December. Ueda noted that there is still a month before the next policy meeting and that the central bank will have a substantial amount of data to consider by then. While he […]