GBP/USD: Institute of Directors finds that confidence among them is at its highest reading. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle

 

GBP/USD SHORT TERM TRADER: Square.

GBP/USD POSITION TAKER: Will go long again if we close above 1.4200 this evening

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ECB frets
Minutes of March meeting reveal

Published yesterday and covering the European Central Bank’s meeting on the 7 & 8th March the minutes noted that all members expressed ‘widespread concern’ that trade-wars ‘could be expected to have an adverse impact on activity for all countries involved’. They also said financial conditions had deteriorated despite better economic growth, that volatility in the FX market was a problem, and that the strong euro ‘could be expected to have a more
negative impact on inflation’. Therefore, they will continue their bond-buying operation, reports City AM.

For a second consecutive day, the Hong Kong Monetary Authority was forced to buy Honk Kong dollars. Reaching its maximum permitted trading band at HK$7.85 to the US dollar this morning (minimum is HK$7.75), they stepped in and sold $311 million to buy HK$2.44 billion, the Financial Times reports, making a total HK$3.26 billion bought this week.

Financial Markets & Political Commentary

 

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