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Bank of England fears financial crisis

Bank of England fears financial crisis | 07 September 2023

07 September 2023, GBP/USD

Bank of England fears financial crisis

GBPUSD trading plan:

U.S. economic growth was "modest" in recent weeks, job growth was "subdued," and inflation slowed in most parts of the country, the Federal Reserve report known as the "Beige Book" published showed. Market pricing shows a more than 45% chance that the Fed will deliver another rate hike in November, according to the CME FedWatch tool, though expectations are for policymakers to keep rates on hold later this month. Conversely, Bank of England Governor Andrew Bailey said that the central bank was "much nearer" to the end of its rate-hike cycle, though borrowing costs might still have further to rise because of stubborn inflation pressures.

Investment idea: sell 1.2518 and take profit 1.2440.

David Johnson
Analyst of «FreshForex» company
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