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The Fed can stick to its dovish stance

The Fed can stick to its dovish stance | 07 April 2021

07 April 2021, GBP/USD

The Fed can stick to its dovish stance

GBPUSD trading plan:

The dollar softened to a two-week low against a basket of currencies after U.S. bond yields declined as traders rolled back aggressive expectations that the Federal Reserve will tighten its policy earlier than pledged. The previous quarter saw the dollar's strongest rally in years on rising expectations that accelerating U.S. economic growth and inflation could force the Fed to abandon its pledge to keep interest rates near zero until 2023. Traders were recalibrating their expectations on the Fed for now after U.S. interest rates futures earlier this week had priced in a 0.25 percentage point rate hike by the end of 2022.

Investment idea: buy 1.3750 and take profit 1.3900.

David Johnson
Analyst of «FreshForex» company
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