Pound Currency Initially Surged Towards 1.4001 Levels On Upbeat Inflation Figures
- Market News
- Special Report
- 2021, 28 June
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.
Buy above 1.3270 for 1.4375 and 1.5000
Sell below 1.3270 for 1.2675 and 1.2050