- September 20, 2022
- Posted by: Stratford Team
- Category: Economy
- GBP/USD bulls come up for air in the face of a softer US dollar in NY.
- The focus for the week is on the Fed and BoE.
GBP/USD is back to trading flat on the day as the bulls move in from the lows of 1.1355, taking on the 1.14 area again. The greenback is a touch softer on the US session in some two-way business while traders remain in anticipation of the Federal Reserve and Bank of England meetings this week.
The sentiment surrounding surging inflation and tighter monetary policy continues to run the show, favoring the US dollar more so as the UK economy fares poorly vs. the US economy. The greenback remains close to two-decade highs as per the US dollar index DXY which measures the currency against six counterparts. DXY was up at 110.18 the high on Monday, not far from 20-year high of 110.79 hit on September. 7.
Risk-off sentiment is also contributing to a higher US dollar in the face of the aggressive tightening path…
