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EBC Daily Snapshot Apr 17, 2024

EBC Forex Snapshot 17 Apr 2024 The dollar was slightly higher on Wednesday as Fed Chair Jerome Powell said there was a lack of further progress on returning to its inflation goal. Traders now anticipate 40 bps of cuts in 2024. Sterling reversed its earlier losses after data showing inflation in the UK cooled less than expected in March. The core figure stayed firmly above 4%, which puts a June rate cut in doubts. Last week, BOE Governor Andrew Bailey said he saw “strong evidence” that higher interest rates were working to tame inflation. But it appears the UK may be going in the US direction. EBC Online Trading Support Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Online Trading Support or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-04-17 08:50:56 (GMT)

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