Pound Currency Initially Surged Towards 1.4001 Levels On Upbeat Inflation Figures

Pound Currency Initially Surged Towards 1.4001 Levels On Upbeat Inflation Figures

  • Market News
  • Special Report
  • 2021, 28 June

Brief:

Last week, the Pound currency initially surged towards 1.4001 levels on upbeat inflation figures and improvement in their labour markets as the pandemic led curbs began to ease. Towards the end sharp gains were restricted, pushing the currency lower after the Bank of England kept its monetary policy unchanged, but vowed to monitor rising inflation as the U.K. economy emerges from its Covid-induced slump.

Moreover, DXY surged to its highest levels since March’2020 after the U.S. Federal Reserve surprised markets by projecting interest rate rises sooner than expected in 2023. 

Suggestion:

Buy above 1.3270 for 1.4375 and 1.5000

Else

Sell below 1.3270 for 1.2675 and 1.2050

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