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British Pound Price Forecast: Optimistic BoE to Buoy GBP/USD, GBP/JPY

Sumary of British Pound Price Forecast: Optimistic BoE to Buoy GBP/USD, GBP/JPY:

  • The long-term technical outlook for GBP/USD and GBP/JPY remains overtly bullish however, is a short-term pullback in the offing?..
  • Asia-Pacific Recap Equity markets broadly gained during Asia-Pacific trade as the Federal Reserve confirmed that it would keep interest rates at current levels through 2023…
  • Australia ASX 200 dipped 0.73% lower despite strong employment figures, as yields on Federal government bonds spiked 7-basis points higher…
  • In FX markets, the risk-sensitive Australian, New Zealand and Canadian Dollars largely outperformed while the haven-associated US Dollar, Swiss Franc and Japanese Yen lost ground…
  • Optimistic BoE to Buoy British Pound The Bank of England upcoming monetary policy meeting may pave the way for the British Pound to extend its climb higher against its haven-associated counterparts, given the diminished prospect of further easing amid a rapidly improving fundamental backdrop…
  • The expeditious distribution of coronavirus vaccines has allowed the United Kingdom to move to stage one of the four stage reopening plan introduced by Prime Minister Boris Johnson government, which sees the return of in-class schooling this month, followed by the reopening of outdoor hospital settings in mid-April, sporting venues in mid-May, and all other businesses by June…
  • However, it must be noted, that this seems unlikely at the upcoming meeting, given the commentary from several central bank members reiterating that the path forward for the local economy remains highly uncertain….

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