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We expect high interest rates in the US

We expect high interest rates in the US | 27 September 2023

27 September 2023, GBP/USD

We expect high interest rates in the US

GBPUSD trading plan:

Markets may be predicting the end of the Federal Reserve’s tightening cycle, but Jamie Dimon is still telling clients to prepare for a worst-case scenario of benchmark interest rates hitting 7% along with stagflation. “We urge our clients to be prepared for that kind of stress,” the JPMorgan Chase & Co. CEO said in an interview with the Times of India, saying a hard landing remains a risk for the US economy. His comments contrast with the consensus view after 5.25 percentage points of hikes that lifted the benchmark rate to 5.5% — the highest level in 22 years. US policymakers have signaled that rates will need to stay higher for longer to contain inflation, though money markets are pricing in cuts from next year. This is a positive signal for dollar.

Investment idea: sell 1.2180 and take profit 1.2101.

David Johnson
Analyst of «FreshForex» company
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