Today on Monday (June 27), the GBPUSD opened at 1.2271 and closed at 1.2274 yesterday. As of now, the highest has touched 1.2297 and the lowest has been 1.2261 . Temporarily reported 1.2284, an increase of 0.08%. The euro and the dollar were temporarily reported at 1.0559, an increase of 0.09%; the dollar and the Canadian dollar were temporarily reported at 1.2902, an increase of 0.06%.
In early Asian trading on June 27, the US dollar index fell slightly and is currently trading around 104.00. The U.S. dollar index slipped on Friday and posted its first weekly loss of the month, closing down 0.61 percent at 104.13 as traders scaled back bets on a possible peak in interest rates and advanced ahead of a possible recession The timing of the rate cut is expected.
SinoAnalysis chief analyst: Multiple factors have kept GBP locked in the 1.23 area
â‘ Dr. Alan, chief analyst of SinoAnalysis, said that from the data point of view, the annual rate of the British CPI in May recorded last Wednesday was 9.1%. Such economic data makes the Bank of England have to face an embarrassing situation;
â‘¡ On the one hand, the ultra-high inflation level and the Federal Reserve , which has already begun to raise interest rates , force the Bank of England to enter the interest rate hike cycle as soon as possible ; the blow. Therefore, the stagnation of the central bank’s policy level also makes the exchange rate of the pound temporarily locked in the 1.23 area.
US dollar index
On Friday, the US dollar index fluctuated downward, and the daily line closed down slightly. The exchange rate trading around 104.00. In addition to profit-taking, which has exerted a certain pressure on the exchange rate , the market’s cooling of the Fed’s interest rate hike expectations during the year is also an important factor that pressured the US dollar index to fall. In addition, the market’s growing concerns about the US economic recession also constituted a certain pressure on the exchange rate. Today, we are concerned about the pressure situation near 104.50, and the bottom support is near 103.50.
GBP/USD
On Friday, the pound fluctuated upward, and the daily line closed up slightly. The exchange rate is now trading around 1.2280. In addition to short covering , which constitutes a certain support for the exchange rate, the weakening of the US dollar index is also an important factor supporting the rebound and closing of the pound. In addition, the good retail sales data released by the United Kingdom during the period also provided some support for the exchange rate. Today, we are concerned about the pressure situation near 1.2350, and the bottom support is near 1.2200.