BOE lowers again and adds more QE

GBPUSD, H1 The BOE lowered rates to 0.10%. The BOE says it will increase holdings of government bonds (new QE). The vote was unanimous. It has been a traumatic first week for the new Governor Andrew Bailey. Cable leapt to 1.1650. Earlier the Pound posted a fresh 35-year low against the Dollar at 1.1451. The …

FX Update – March 9 – Risk Averse Rules

USDJPY, H1 The Yen surged by over 4% versus the commodity bloc currencies; massive intra-day movements by the standards of trading in the prevailing era as global markets slammed the risk-off button amid heightening panic about the global economic impact that the COVID-19 virus pandemic is having. Oil prices were hammered, diving by a staggering …