GBP/USD struggles to recapture 1.2200 as investors turn anxious ahead of Fed-BoE policy GBPUSD Fed BOE SEO Inflation
a narrow range of 1.2168-1.2203. The Cable is struggling to deliver decisive action and is showing a subdued performance as investors are awaiting interest rate decisions by the Federal Reserve and theS&P500 futures are displaying sheer. The 500-US stocks basket has surrendered its entire gains generated in early Asia. It seems that UBS’s rescue plan for Credit Suisse has failed to cheer market participants.
. The 10-year US Treasury yields have scaled above 3.42% as higher liquidity flush could propel inflationary pressures again.The whole arena would go through nail-biting moments as the Federal Reserve would announce its March monetary policy in times when fears of banking turmoil are deepening sharply. It seems unrealistic that Fed chair Jerome Powell would undermine the potential banking meltdown and will only focus on bringing down the stubborn inflation.
No doubt, the Bank of England has been restricting its monetary policy to bring down the galloping inflation. The interest rate has already reached 4%. However, fresh concerns of the global banking fiasco are expected to add to more troubles for the Bank of England policymakers. Therefore, the street is not convinced about further rate hikes for now.
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