GBP/USD approaches 1.2350 key hurdle amid Brexit optimism, Fed’s dovish hike, focus on BoE – by anilpanchal7 GBPUSD Brexit BOE Fed RiskAversion
Fed’s 0.25% rate hike failed to please bulls amid fears of policy pivot, banking turmoil.BoE is all set for 0.25% rate hike but looming bank fallouts, UK’s political chaos may test the bulls.
British Prime Minister Rishi Sunak’s victory in getting the Brexit bill passed through the House of Commons, despite major criticism from Tory rebels seems to underpin the GBP/USD upside. "Rishi Sunak has escaped an overly damaging Commons rebellion over his revised plan for post-Brexit Northern Ireland trade, winning a vote on the measure with 22 of his own MPs voting against the deal,” said The Guardian.
Against this backdrop, S&P 500 Futures print mild gains around 3,980, up 0.25% intraday following the biggest daily slump in two weeks while the US 10-year and two-year Treasury bond yields stay pressured around 3.47% and 3.96% at the latest, licking their wounds after falling the most in a week.
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