How will the GBP/USD react to 'Partygate' inquiry today?
As the US Federal Reserve plans to tighten monetary policy at a more aggressive pace, the dollar index is actively growing against reserve currencies and GBP.
Accordingly, we still adhere to the previous forecast for the GBP USD pair - a decline in the area of 1.3200, followed by a rebound to the dynamic resistance zone of the downtrend.
The GBP has been showing signs of resilience today, after hitting a five-week low on Friday. The USD soared last week after the Federal Reserve meeting that pushed interest rate markets to pricing 5 hikes in 2022.
British Prime Minister Boris Johnson is planning to unveil 'Brexit Freedoms Bill', aiming to remove or amend European Union regulations that were copied into the country's law before it left the EU. This will mark the two year anniversary of Getting Brexit Done and will cut £1 billion of red tape for businesses to maximise the benefits of Brexit. Another factor however that could potentially lift the GBP in 2022, according to strategists, would be Boris Johnson's resignation after a series of scandals, including the most recent 'Partygate' scandal. All eyes are on the Sue Gray report investigating the Prime Minister's involvement into lockdown parties, which was released today.
Accordingly, we still adhere to the previous forecast for the GBP USD pair - a decline in the area of 1.3200, followed by a rebound to the dynamic resistance zone of the downtrend.
The GBP has been showing signs of resilience today, after hitting a five-week low on Friday. The USD soared last week after the Federal Reserve meeting that pushed interest rate markets to pricing 5 hikes in 2022.
British Prime Minister Boris Johnson is planning to unveil 'Brexit Freedoms Bill', aiming to remove or amend European Union regulations that were copied into the country's law before it left the EU. This will mark the two year anniversary of Getting Brexit Done and will cut £1 billion of red tape for businesses to maximise the benefits of Brexit. Another factor however that could potentially lift the GBP in 2022, according to strategists, would be Boris Johnson's resignation after a series of scandals, including the most recent 'Partygate' scandal. All eyes are on the Sue Gray report investigating the Prime Minister's involvement into lockdown parties, which was released today.
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