USD to remain resilient, downside risks to the GBP in the months ahead – HSBC
Source Fxstreet
Economists at HSBC analyze the US Dollar (USD) and the Pound Sterling (GBP) outlook for the coming months.
USD is likely to remain resilient
Looking ahead, the broad USD is likely to remain determined by the interplay of risk appetite and rates. For now, the USD appears to be able to find a floor in the recent ‘risk-on’ environment.
Relative rates may offer some support to the USD if other central banks show more dovish momentum. The most recent example was from the BoE’s 21 March decision. The MPC members who voted for a hike in February decided to join the majority in March to keep the policy rate unchanged at 5.25%. With the BoE inching towards easing and cutting at least as much as its peers, the GBP will likely face downward pressures.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Crypto analyst Scott Melker identifies a prime risk/reward setup for XRP as it tests key support at $1.60, offering a tight stop-loss against potential upside targets near $2.00.
Gold (XAU/USD) attracts follow-through buying for the second consecutive day and surges past the $5,000 psychological mark during the Asian session on Wednesday amid the global flight to safety.
Ethereum Price Forecast: ETH faces heavy distribution as price slips below average cost basis of investorsEthereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Ethereum (ETH) extended its decline on Wednesday, dropping more than 5% over the past 24 hours toward the $2,100 level, which is below the $2,310 average cost basis or realized price of investors, according to CryptoQuant's data.
Precious metals' volatility mirrored Bitcoin's downturn as it targets lower price points.
Related Instrument
