Free Trial

Push in USD Index Presses Toward 2022 High

USD
  • EUR and GBP weakness taking over as the drivers for the USD Index strength here (combined, they make up just under 70% of the USD Index vs. The JPY's 13.6%) which is coming closer to testing the 2022 cycle high of 99.418, last printed on March 7th.
  • GBP/USD pullback has the pair narrowing in on key support at 1.3000, the Mar 15 low and bear trigger. Losses through here open levels not seen since 2020.
  • Moves follow appearance from BoE's Bailey earlier today who flagged the Bank's decision to soften guidance on future rate rises to reflect the high level of economic uncertainty. This environment clearly persists, with S&P just this morning revising their 2022 UK growth forecast lower amid higher inflation weighing on disposable incomes
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

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.