GBPUSD has made another run above 1.37, it’s highest level since May 2018.
There are several high impact news releases today [GMT]:
- 13:30 CAD$ Inflation
- 15:00 CAD$ interest rate decision and press conference
- 17:00 BOE Andrew Bailey speech
- 17:00 US Presidential inauguration
- 00:30 AUD$ unemployment rates
In other news, with the stamp duty holiday due to expire on 31st March, the UK housing market has shown its highest growth rate since June 2016.
UK inflation beat expectations this morning, with a 0.6% print versus an expected 0.5%. Although positive for GBP currency pairs in the short term, it is unlikely to provoke the BOE into remedial action.
The dollar is continuing a yo-yo path of uncertainty at the moment. The dollar index presents a stronger dollar across the board, with EURUSD being pressured lower. However, GBPUSD is maintaining positive momentum for now with a 1.5% rally from the 18th Jan.
Have a great day.
Alistair Hutson, Senior Relationship Manager.
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