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US dollar gives some back after the Bank of England and productivity data

The US dollar is at the lows of the day against the euro and is giving back gains against the pound.It's also at a session low against the yen.The dollar selling comes after the Bank of England press conference wrapped up. The BOE hiked rates by 25 bps with Bailey saying there was never a case for 50 bps in his mind. The market had priced in a 33% chance of a 50 bps cut as the BOE falls behind the curve on inflation.Also contributing to the USD turn was the Q2 prelim unit labor costs report. It... Read More

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Forex

Posted: Aug 3 2023, 12:49

Author Name: forexlive

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