GBP/USD breaks below descending triangle and slips under 1.3500 as USD recovery continues

published 11.01.2021 17:03

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Given that other key members of the bank (such as Governor Andrew Bailey and Chief Economist Andy Haldane) have in the recent past seemingly set the bar quite high for the implementation of negative rates, most analysts still see the bank going down this route as unlikely.

However, the above news does not seem to have impacted GBP too badly on Monday versus most of its non-USD G10 peers, nor was alarming weekly UK shopping numbers that saw traffic down 27.1% YoY (which, to be fair, makes sense given there was no lockdown in early January 2020).

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