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

RTTNews | 952 ngày trước
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
Pound Advances After U.K. Inflation Data

Pound Advances After U.K. Inflation Data

The pound was higher against its major counterparts in the New York session on Wednesday, after data showing an acceleration in consumer price inflation in the month of April.
RTTNews | 40 phút trước
U.S. Dollar Falls Amid Risk-on Mood, Fed Rate Cut Bet

U.S. Dollar Falls Amid Risk-on Mood, Fed Rate Cut Bet

The U.S. dollar weakened against other major currencies in the Asian session on Wednesday amid increased risk-on mood, as some traders are still looking to cash in on the strong upside in the markets seen over the past several weeks. Furthermore, growing market acceptance that the Federal Reserve (Fed) will lower interest rates further this year amid evidence of diminishing inflationary pressure and a dismal growth forecast, also pushed the USD lower.
RTTNews | 11h 56phút trước
Swiss Franc Rises Against Majors

Swiss Franc Rises Against Majors

The Swiss franc strengthened against other major currencies in the Asian session on Wednesday.
RTTNews | 14h 28phút trước
U.S. Dollar Slides Amid U.S. Tariff Uncertainty

U.S. Dollar Slides Amid U.S. Tariff Uncertainty

The U.S. dollar weakened against other major currencies in the European session on Tuesday, due to fiscal and economic concerns amid uncertainties about U.S. tariffs.
RTTNews | 1 ngày trước
Euro Retreats Against Majors

Euro Retreats Against Majors

The euro retreated against its major counterparts in the New York session on Monday.
RTTNews | 1 ngày trước
U.S. Dollar Higher On Trade Hopes

U.S. Dollar Higher On Trade Hopes

The U.S. dollar appreciated against its major counterparts in the New York session on Friday, as investors focused on developments on the trade front.
RTTNews | 5 ngày trước