Home Article Market News Pound Traded Higher, Benefited From BoE Bailey’s Comments

Pound Traded Higher, Benefited From BoE Bailey’s Comments


During the European session, the risk tone remained mixed with European indices were trading mixed, and mixed in safe-havens.

In the FX markets, the GBP is leading the market as the currency continues to benefit from yesterday’s comments from BoE’s Bailey, which is casting doubt over whether the bank will adopt NIRP in the near future. Reuters states that the GBP is also finding support due to “optimism over the pace of UK’s vaccination rollout”.

Also, the Dollar traded better after the DXY index once again trading above the 90.00 levels.

Meanwhile, both AUD and NZD declined, driven by subdued commodity prices and a firmer USD.

Ahead of the New York session, the USD will likely remain in focus with several Fed speakers on the docket, including Fed’s Brainard and Clarida.

Follow us on the telegram channel for the latest news, tips, and various other information : MONSUN ASIA (MARKET UPDATE & ANALYSIS)