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Positive dynamics of the credit market

Positive dynamics of the credit market | 04 May 2020

04 May 2020, GBP/USD

Positive dynamics of the credit market

GBPUSD trading plan:

U.S. dollar loans rates are falling in the London interbank market, while interest rates on loans are rising in British currency. This is positive signal for pound sterling, since excess dollar liquidity has a negative effect on the exchange rate of the U.S. dollar. The interest rate on a three-month loan in U.S. currency in London is 0.5408%. This rate was 34.6 basis points higher a week ago. The interest rate on a three-month loan in British currency in London is 0.552%. This is indicator was 0.8 basis points lower, a week ago.

Trading recommendation: Buy 1.2440 and take profit 1.2501.

David Johnson
Analyst of «FreshForex» company
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