Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Mar 04 - 11:55 AM

GBP/USD - COMMENT-Sterling Bulls Run Higher, Likely Impervious To Powell

By Paul Spirgel  —  Mar 04 - 10:18 AM

Sterling's run to new session highs by 1.3984, hints that the dollar and the pound might be running on parallel tracks with regard to rate and recovery expectations.

Currency moves were muted on Thursday as markets awaited comments by Fed Chair Jerome Powell at 12:05 PM EST on expectations that he would address the recent rise in U.S. long-term rates.

Though sterling is 2-1/2-big figures below its recent trend high, UK and U.S. rates have been following a similar trajectory.
The rise in UK growth expectations, and diminished outlook for UK negative rates, has been a key factor in sterling's rise from early December 2020 lows by 1.31.

Powell statements are likely to have hurt sterling less as a walk-back on U.S. and global rates by Powell would remove only one catalyst of its recent strength.

Upbeat COVID and post-Brexit recovery tones are likely to maintain GBP's relative strength versus the USD and EUR as long as recent UK successes fighting the virus and re-igniting UK growth are maintained.
For more click on FXBUZ

GBP Chart: Click here

UK rates Chart: Click here

Refinitiv IFR Research/Market Commentary


  • eFXplus
  • End-user license agreement (EULA)


  • About
  • Contact Us


  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2021 eFXdata · All Rights Reserved