Ian McCafferty is a consistent hawk in the Bank of England’s Monetary Policy Committee. While his colleagues are deliberating the options of raising rates against rising inflation yet a slowing economy, McCafferty has other ideas. In an interview with The Times, he suggested reviewing the Bank’s policy of Quantitative Easing. He suggests bringing an early end to the bond-buying scheme. This is a hawkish shift. Also the Federal Reserve is on a path to begin unwinding its QE program, probably in September, beginning the reduction of its balance sheet. However, Fed Chair Janet Yellen expressed some concerns over inflation, opening the door for a delay regarding the next rate hike. Yellen will testify again today, but she is unlikely to provide any new headlines. Elliott Wave Analysis: GBPUSD Trading in A Bigger Ending Diagonal GBP/USD rises, but there are many doubts On this background, GBP/USD is on the rise. GBP/UDS trades above 1.29 once again, reaching 1.2924. Resistance awaits at 1.30, followed by 1.3050. Support is at 1.2820 and then at 1.2775. Sterling got a boost from the not-too-bad jobs report yesterday, but there are still reasons to worry. Wages are rising at a slower pace than inflation and consumers remain hesitant. The RICS House Price Balance came out at 7% against 15% expected. The BCC’s survey showed weakness. We will later get the Bank of England’s Credit Conditions survey. Here is the chart: Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next USD/CAD: What’s The Post-BoC Trade? – Nomura Yohay Elam 6 years Ian McCafferty is a consistent hawk in the Bank of England's Monetary Policy Committee. While his colleagues are deliberating the options of raising rates against rising inflation yet a slowing economy, McCafferty has other ideas. In an interview with The Times, he suggested reviewing the Bank's policy of Quantitative Easing. He suggests bringing an early end to the bond-buying scheme. This is a hawkish shift. Also the Federal Reserve is on a path to begin unwinding its QE program, probably in September, beginning the reduction of its balance sheet. However, Fed Chair Janet Yellen expressed some concerns over inflation, opening… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
