GBPUSD Pound Jumps to 1.25, Markets Eye Autumn

GBPUSD Pound Slides Continues on Soft Services PMI

GBPUSD Pound Slides Continues on Soft Services PMI

GBPUSD Pound Jumps to 1.25, Markets Eye Autumn

Buz Investors  Pound Slides Continues  GBP/USD has posted losses in Friday trade. Currently GBP/USD is trading at 1.2220. On the release front, British Services PMI dipped to 53.3, short of the estimate of 54.4 points. In the US, today’s highlight is ISM Manufacturing PMI, which is forecast to remain unchanged at 56.5 points. The markets will be listening closely as four FOMC members deliver remarks on Friday, including Federal Reserve Chair Janet Yellen.


Pound Slides Continues

Market sentiment continues to heat up regarding a Fed rate hike. Federal Reserve policymakers continue to sound hawkish about a rate move on March 15, when the Fed next meets for a policy meeting. Earlier in the week, FOMC members William Dudley and John Williams both hinted at an imminent hike by the Fed. Dudley said the case for a hike is compelling, while Williams noted that a rate increase will be up for “serious consideration” at the March policy meeting. The markets are taking these statements at face value, as the odds of a March move have increased dramatically. The likelihood of a rate move has soared to 80%, compared to 33% just a few days ago. Why the huge jump in odds? One reason is that policymakers are now saying they don’t need to wait for Donald Trump to outline tax reform or other economic packages before making a monetary move. This is a significant departure from a few weeks ago, when the Fed sent out signals that it would stay on the sidelines until it had a clearer picture of the economic stance of the new administration.

READ  GBPUSD Market Close Tuesday for British Pound

major currencies: (EUR-USD) (USD-JPY) (USD-GBP) (USD-CHF), (USD-CAD), (AUD-USD)

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Richard Dambrosi (JADTECNIC) Has Been Sharing FOREX INVESTORS ANALYSIS FORECAST since 2011. Editors and Founder of, has a passion for Forex Social Sharing analysis and Market Trends Such as Self Driving Cars, Electric Cars, Medical Marijuana, 3d printing and Cloud computing, Refers to Readers as BUZ INVESTORS.

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