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Dynamics of interbank interest rates

Dynamics of interbank interest rates | 24 December 2021

24 December 2021, GBP/USD

Dynamics of interbank interest rates

GBPUSD trading plan:

On the interbank market in London, the Libor rates for pounds are higher than similar rates for the dollar, which is favorable for the growth of the GBPUSD currency pair. Additional support for the British currency will be provided by a bullish rally in the oil market, as assets correlate with each other. Global oil demand roared back in 2021 as the world began to recover from the coronavirus pandemic, and overall world consumption potentially could hit a new record in 2022 - despite efforts to bring down fossil fuel consumption to mitigate climate change. Global oil consumption is expected to return to an average of 99.5 million barrels per day in 2022, about the same level it was at in 2019.

Investment idea: buy 1.3363 and take profit 1.3412.

David Johnson
Analyst of «FreshForex» company
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