The British pound falls 0.5% to $1.1106, after falling 1.4% overnight. Earlier this week he was fired after the British government backed down on an income tax plan. The Bank of England expressed this Friday its commitment to a plan to contain inflation, “although it implies more pain for the British economy”, according to the deputy governor of the entity Dave Ramsdenwho also criticized the tax cuts announced by the Government.
“As difficult as the consequences are for the economy, the Monetary Policy Committee must stay the course and set monetary policy so that inflation reaches the 2% target again,” he said. Ramsden In a speech delivered on Friday at the Securities Industry Conference 2022.
“The dollar is in a very crowded position, and any signs of economic weakness in the United States will weigh heavily on the dollar, but it certainly didn’t come with non-farm payrolls,” he said. Adam Button, chief currency analyst at ForexLive in Toronto in dialogue with Reuters. “The dollar has only been filled out a bit more by this data. The US economy is strong.”
This Friday it was known that jobs in non-farm payrolls increased 263,000 in September. Several officials of the Federal Reserve They reinforced the view that the central bank is not done raising rates of interest in its attempt to control inflation, and they are expected to continue rising.
The data on the inflation in the United States, to be published next weekwill also be closely watched and could influence investors’ expectations of what the Fed will do, according to strategists. The US central bank, in an effort to control inflation, has raised its interest rate from near zero earlier this year to the range of 3.00% to 3.25%.and signaled last month that more major hikes are on the way.
Overnightseveral Fed officials reinforced the view that the central bank is not done raising rates of interest in its attempt to control inflation, and they are expected to continue rising.
Source: Ambito
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