GBP/USD flirts with 1.3600 amid Brexit, political jitters, BOE MPR Hearings eyed By anilpanchal7 GBPUSD Brexit Politics BOE RiskAppetite
cheered safe-haven demand amid ongoing Russia-Ukraine tussles. However, hawkish comments from Bank of England Deputy Governor Dave Ramsden joined an absence of major negatives on the Brexit front to trigger the quote’s latest bounce. Also underpinning the corrective pullback is the absence of Russian reactions to the West’s punitive measures and slightly softer comments from US President Joe Biden while announcing US sanctions on Moscow.
Elsewhere, Foreign Secretary Liz Truss and European Commission Vice-President Maroš Šefčovič agreed to meet regularly and discuss any points raised by the EU or the UK after the latest Brexit talks, per the BBC. “Asked if the UK would trigger Article 16, which allows either side to unilaterally decide whether to stop implementing parts of the trade deal, Mrs. Truss said that she wanted to improve the situation through talks,” the news also mentioned.
Against this backdrop, S&P 500 Futures consolidate recent losses with 0.5% intraday gains while the US Treasury yields remain inactive at around 1.94%, mainly due to Japan’s holiday, after rising around 2.0% daily in the previous day.Report Hearings are the key event for GBP/USD traders to watch amid hawkish rhetoric from the policymakers and the market’s hopes of further rate hikes. By the press time, CME’s BOEWatch Tool flashes 100% probabilities of a 0.30% rate hike in March.
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