GBPUSD – Flat
GBPUSD trading plan:
The scale of the two-year U.S. bond yield rise is truly remarkable – a year ago it was as low as 18 basis points, today it nudged 348 bps. With the Fed likely to continue tightening, few would bet against it rising further. The failure to bounce back at all is a reflection of how jittery investors are right now. Not only are they having to adjust to a hawkish Federal Reserve, the European Central Bank also appears poised to accelerate the pace of interest rate hikes. Bonds are selling off globally, the dollar is surging, and no corner of the investment world is being spared the fallout.
Investment idea: sell 1.1735 and take profit 1.1675.
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