GBP/USD eyes upside above 1.2200 as risk-on mood solidifies on Credit Suisse buyout – by Sagar_Dua24 GBPUSD Fed BOE Inflation RiskAppetite
The Fed would look for a 25 bps rate hike just to maintain pressure on stubborn inflation.is gathering strength is shifting its auction above the round-level resistance of 1.2200 in the Asian session. The Cable has found support as the appeal for the US Dollar Index is declining amid rising expectations of a less-hawkish monetary policy by the Federal Reserve .
S&P500 futures are showing significant gains in the Asian session as UOB has confirmed a buyout for Credit Suisse. This has improved the risk appetite of the market participants as investors’ confidence is getting restored. Sky News reported that under the takeover UBS will pay 3bn Swiss francs to acquire Credit Suisse. And, it has agreed to assume up to 5bn francs in losses, and 100bn Swiss francs in liquidity assistance will be available to both banks.
The USD Index is observing a restrictive upside around 103.80 as banking shakedown in the United States has faded hawkish guidance delivered by Fed chair Jerome Powell, a few weeks back. Inflation has dropped and the requirement of providing assistance to commercial banks is favoring the need for a lower interest rate hike, just to maintain pressure on stubborn inflation.raising rates by 25 basis points despite recent turmoil amid banking sector jitters.
, scheduled for Thursday. Analysts at Rabobank also see a quarter-point rate increase and warn that such a scenario is not fully priced in the interest market, “which indicates that the chance of a hold has increased following the collapse of Silicon Valley Bank .” A 25 bps rate hike by BoE Governor Andrew Bailey would push rates to 4.25%. data is expected to decline to 9.8% from double-digit figures.
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