Here's a question from the mailbox, concerning why the GBP is rising if UK data released in the last two days failed to impress? In our view, it boils down to yesterday's US FOMC Meeting Minutes from a fundamental perspective. "The document reiterated that the Committee expects to maintain an accommodative stance of monetary policy until inflation stands moderately above 2% for some time while achieving maximum employment." quoting a news piece published yesterday by FXStreet Team (www.fxstreet.com/new...minutes-202107071810).
From a technical point of view though, and looking at the charts of GBP pairs, USD pairs, and 10-Year Note futures, all of these markets mirrored a similar reversal pattern at the same time.
From a technical point of view though, and looking at the charts of GBP pairs, USD pairs, and 10-Year Note futures, all of these markets mirrored a similar reversal pattern at the same time.