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The BoE will start to sell off some of bonds

The BoE will start to sell off some of bonds | 11 November 2022

11 November 2022, GBP/USD

GBPUSD trading plan:

The Bank of England will start later this month to sell off some of the 19.3 billion pounds of bonds which it bought to quell market turmoil in the wake of former prime minister Liz Truss's Sept. 23 mini-budget. The BoE intervened in the British government bond market between Sept. 28 and Oct. 14, buying long-dated and index-linked gilts to halt a fire sale of assets by British pension funds which were caught out by unprecedentedly sharp price falls. Unlike the BoE's separate programme of auctions to unwind some of its more than 830 billion pounds of quantitative easing bond purchases, these sales will not take place at a fixed pace.

Investment idea: buy 1.1649 and take profit 1.1725.

David Johnson
Analyst of «FreshForex» company
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