-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
-
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessGBP Struggles On Beta To Delta
GBP/USD prints 15 pips or so lower on the day into London hours, dealing at $1.3660 at typing, with the USD sitting atop the G10 FX table towards the end of a risk-negative Asia-Pac session.
- A reminder that the UK fell afoul of its higher beta to the delta COVID strain on Monday, struggling on worry surrounding the spread of the mutation (albeit with hospitalisations and deaths running at much more subdued levels than we have seen previously, aided by the country's vaccination rate), taking the gloss off of "freedom day." Cable tried to find a base in late London trade as the DXY moved away from fresh multi-month highs, but slipped to worst levels of the session ahead of the NY close before consolidating in Asia-Pac hours.
- We also saw some counter to the recent hawkish utterances from BoE policymakers Saunders & Ramsden, with Haskel and incoming MPC member Mann underscoring their views surrounding the transitory nature of the current inflationary impulse.
- From a technical perspective, Monday saw the 200-DMA and key support at $1.3669 give way, with bears now looking to the 23.6% retracement of the Mar '20 to Jul '21 rally as the next level of notable support ($1.3579). Bulls need to retake yesterday's high ($1.3790) to start turning the tide in their favour.
- There is nothing of note on the FX options expiry front over the coming days (at least not at present).
- Today's UK docket is bare, leaving the cross at the whim of broader headline & macro flow.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.