Pound Rebounds As BoE Chief Bailey Hints At Bond-buying Extension

RTTNews | 956 일 전
Pound Rebounds As BoE Chief Bailey Hints At Bond-buying Extension

(RTTNews) - The pound erased its early losses against its major counterparts in the Asian session on Wednesday, following a media report that the Bank of England is considering an extension to emergency bond-buying program when it ends on Friday.

The Financial Times reported that BoE Governor Andrew Bailey has signaled the likelihood of extending bond buying program to prevent a volatility in the market.

BoE officials reportedly told lenders that it would continue bond facility past the October 14 deadline, if market conditions warranted it.

The report came after a warning from the BoE chief that it would stop buying bonds that could put some pension schemes in trouble.

"You've got three days left now and you've got to sort it out," Andrew Bailey told pension funds on Tuesday.

The pound rose to 1.1057 against the greenback and 0.8796 against the euro, up from its early near 2-week lows of 1.0923 and 0.8867, respectively. The pound may challenge resistance around 1.26 against the greenback and 0.86 against the euro.

The pound advanced to 161.50 against the yen and 1.1010 against the franc, reversing from an early low of 159.74 and near a 2-week low of 1.0908, respectively. Next key resistance for the pound is found around 165.00 against the yen and 1.21 against the franc.

Looking ahead, Eurozone industrial production for August is due in the European session.

U.S. producer prices for September will be released in the New York session.

The U.S. Federal Reserve will release the minutes from the September 20-21 policy meeting at 2:00 pm ET.

read more
Euro Slips On Trump's Tariff Proposal

Euro Slips On Trump's Tariff Proposal

The euro fell against its major counterparts on Friday, as President Donald Trump proposed tariffs on imports from the European Union starting on June 1.
RTTNews | 1 일 전
Pound Rises On Robust U.K. Retail Sales Data

Pound Rises On Robust U.K. Retail Sales Data

The British pound strengthened against other major currencies in the European session on Friday, after U.K. retail sales rebounded more than expected in April as good weather boosted food store sales.
RTTNews | 2 일 전
Pound Rises Against Majors

Pound Rises Against Majors

The British pound strengthened against other major currencies in the European session on Friday.
RTTNews | 2 일 전
U.S. Dollar Firms On Deficit Concerns

U.S. Dollar Firms On Deficit Concerns

The U.S. dollar was higher against its most major counterparts in the New York session on Thursday, as treasury yields soared amid concerns about the fiscal impact of President Donald Trump's tax bill.
RTTNews | 2 일 전
Euro Falls Against Majors

Euro Falls Against Majors

The euro weakened against other major currencies in the Asian session on Thursday.
RTTNews | 3 일 전