GBPUSD – Flat
GBPUSD trading plan:
Money markets have priced in a return of the Fed to a 50 basis points hike at its next meeting on March 21-22 and a peak of about 5.7% in September, some 20 basis points higher than before Powell’s testimony. Investors fear the Fed is going to overdo it. While the Fed’s words and actions are always closely followed by investors, market participants have been particularly focused on the central bank’s response to rising inflation pressures in the economy since the COVID-19 slowdown. Some have criticized it for being too slow in shifting its attention from fighting the pandemic economic shock to controlling prices.
Investment idea: range 1.1860 -1.1960.
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