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A Benchmark Rate at 2% Would 'Not Be Excessive'


Yield curve shifts higher with 5s30s flattening


Austria lowers 2021 funding target


Trading Near Recent Highs

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GBP the G10 FX underperformer early on this week, with worry surrounding the evolving fuel issues in the UK likely the driving force for GBP crosses early this week. The local press has suggested that UK PM Johnson will enlist the help of the military to deliver fuel in the coming days, after panic buying has resulted in fuel shortages and closed petrol station forecourts across chunks of the country. The PM has also moved to adjust regulations so that lorry drivers and poultry workers will be able to receive temporary visas as the government seeks to neutralise worry surrounding supply chain logistics ahead of Christmas. GBP/USD last 15 pips or so softer at $1.3665, with support seen at the triangle base drawn from the Jul 20 low ($1.3635), followed by the Aug 20 low ($1.3602).