FOREX TradingCharts.com

Forex News: Pound Climbs After BoE Vlieghe's Remarks

Pound Climbs After BoE Vlieghe's Remarks

09/25/2018 - 07:58:00 (RTTNews)

(RTTNews) - The pound strengthened against its major opponents in the European session on Tuesday, after the Bank of England member Gertjan Vlieghe remarked that one or two rate hikes per year would probably be needed should UK wage and productivity picked up.

Understanding the main channels through which QE works is going to be very important when it comes to unwinding QE, Vlieghe said at a speech before Imperial College Business School in London.

Unwinding QE need not have a material impact on the shape of the yield curve, or on the economy, if done gradually, he said.

He estimated one to two rate hikes a year, if wage and productivity growth picked up.

European stocks advanced amid reports of a compromise on Italy's budget among the government coalition members.

Analysts say that the country will not walk off the European Union, despite the pressure to announce populist measures that will require billions in additional spending.

Investors also looked ahead to the upcoming Fed meeting for clues to future rate increases. The pound showed mixed trading against its major rivals in the Asian session. While it held steady against the euro and the yen, it rose against the franc. Against the greenback, it dropped.

The pound advanced to a 4-day high of 148.52 against the yen, from a low of 147.81 hit at 3:15 am ET. The next possible resistance for the pound is seen around the 150.00 area.

Data from the Bank of Japan showed that Japan producer prices rose 1.3 percent on year in August - exceeding expectations for an increase of 1.1 percent, which would have been unchanged from the July reading.

On a monthly basis, producer prices were unchanged after rising 0.1 percent in the previous month.

Having dropped to 1.3095 against the greenback at 3:00 am ET, the pound reversed direction and climbed to 1.3161. On the upside, 1.33 is likely seen as the next resistance level for the pound.

The pound rose to a 4-day high of 1.2717 against the franc, after falling to 1.2642 at 5:00 pm ET. The pound is poised to find resistance around the 1.29 level.

After falling to 0.8975 against the euro at 3:00 am ET, the pound reversed direction and edged up to 0.8940. The pound is seen finding resistance around the 0.88 level.

Data from the Federal Statistical Office showed that Germany's wholesale price inflation accelerated in August largely driven by fuel cost.

Wholesale price inflation rose to 3.8 percent in August from 3.6 percent in July. This was the fastest increase in wholesale prices since April 2017.

Looking ahead, Federal housing finance agency's U.S. house price index and S&P/Case-Shiller home price index for July and consumer confidence index for September are due in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Dollar Trading Mixed Ahead Of The Weekend (35 min(s), 42 sec(s) ago)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Friday afternoon ...Full Story»

Loonie Weakens After Disappointing Canada Inflation, Retail Sales Data (45 min(s), 18 sec(s) ago)
(RTTNews) - The Canadian dollar declined against its major counterparts in the European session on ...Full Story»

Loonie Falls After Canada Retail Sales, CPI (02 hr(s), 42 min(s), 18 sec(s) ago)
(RTTNews) - At 8:30 am ET Friday, Statistics Canada has released Canada retail sales for August an ...Full Story»

Loonie Mixed Ahead Of Canada Retail Sales, CPI (02 hr(s), 45 min(s), 18 sec(s) ago)
(RTTNews) - At 8:30 am ET Friday, Statistics Canada will release Canada retail sales for August an ...Full Story»

Euro Weakens After EC Warns Italy Over Budget Plan (05 hr(s), 33 min(s), 17 sec(s) ago)
(RTTNews) - The euro declined against its major counterparts in the early European session on Frid ...Full Story»

Pound Little Changed After U.K. Public Sector Finance Data (06 hr(s), 39 min(s), 18 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, the Office for National Statistics has published public sector f ...Full Story»

Pound Mixed Ahead Of U.K. Public Sector Finance Data (06 hr(s), 45 min(s), 18 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, the Office for National Statistics publishes public sector finan ...Full Story»

Australian, NZ Dollars Advance Against Majors (07 hr(s), 51 min(s), 18 sec(s) ago)
(RTTNews) - The Australian and New Zealand dollars climbed against their most major counterparts i ...Full Story»

Search

FOREX NEWS

Dollar Trading Mixed Ahead Of The Weekend

10/19/2018 - 14:49 PM (RTTNews)
(RTTNews) - The dollar is turning in a mixed performance against its major rivals Friday afternoon ...Full Story>>

Loonie Weakens After Disappointing Canada Inflation, Retail Sales Data

10/19/2018 - 10:27 AM (RTTNews)
(RTTNews) - The Canadian dollar declined against its major counterparts in the European session on ...Full Story>>

Loonie Falls After Canada Retail Sales, CPI

10/19/2018 - 08:32 AM (RTTNews)
(RTTNews) - At 8:30 am ET Friday, Statistics Canada has released Canada retail sales for August an ...Full Story>>

Loonie Mixed Ahead Of Canada Retail Sales, CPI

10/19/2018 - 08:28 AM (RTTNews)
(RTTNews) - At 8:30 am ET Friday, Statistics Canada will release Canada retail sales for August an ...Full Story>>

Euro Weakens After EC Warns Italy Over Budget Plan

10/19/2018 - 05:41 AM (RTTNews)
(RTTNews) - The euro declined against its major counterparts in the early European session on Frid ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.