British Pound: Recovery eyes 1.36 against US Dollar – Scotiabank

The post British Pound feeds on bad news as the Euro slides to a one-year low appeared on BitcoinEthereumNews.com. The Euro’s slide against the Pound has now consumed seven of the last eight trading sessions, and the reflex explanation of a soft single currency gets the attribution backwards. Sterling has done most of the work here: the Pound just closed out its best week in three months, printed a one-year high against the Euro, and managed both midway through a leadership transition with no confirmed Prime Minister and no named finance minister. The cross is falling because the Pound is being repriced upward, not because the Euro is falling apart. A Bank of England hike went from coin flip to certainty in three sessions Interest rate expectations moved decisively in the Pound’s favour inside a single week. Markets priced roughly a 70% chance of a Bank of England (BoE) hike by year-end on Monday, nudged that to 76% on Tuesday, then moved to full pricing after the White House declared

The post BoE Chief Denies Farage Influenced CBDC Policy: Report appeared on BitcoinEthereumNews.com. Bank of England Governor Andrew Bailey has reportedly denied that lobbying efforts by Nigel Farage influenced the central bank’s approach to a potential central bank digital currency (CBDC), saying policy decisions were made independently. According to a Wednesday report by The Guardian, which obtained a letter written by Bailey, the governor said the BoE is “able to spot” attempts to influence its policymaking. The letter followed a meeting with Farage, during which the two discussed several issues, including cryptocurrencies. “Following our meeting, Mr. Farage spoke with the press outlining that we had discussed a range of topics, including cryptocurrencies,” Bailey reportedly wrote in the letter. “I am happy to confirm that no policy changes have taken place as a result of interventions by Mr. Farage.” Farage, the leader of the UK’s Reform Party and one of the most prominent supporte

The post US Dollar: Fed repricing after hawkish pivot – Scotiabank appeared on BitcoinEthereumNews.com. Scotiabank strategists Shaun Osborne and Eric Theoret report that the US Dollar (USD) is trading mixed as renewed Iran tensions hit risk appetite, with stocks falling and Oil (Brent) jumping 6%. They argue markets are overreacting to June’s hawkish Federal Open Market Committee (FOMC) pivot, noting Chair Warsh’s criticism of the dots and his reluctance to front-run Federal Reserve (Fed) reform task forces, while 37 bps of tightening priced by December still looks excessive. Iran tensions and FOMC expectations “Risk appetite has slumped, with global stocks down sharply.” “The dollar picked up some support earlier in London trade following the president’s ceasefire comments, but gains are limited and the DXY is still trading at a small net loss on the day.” “Developments leave markets pondering whether this is a brief and temporary rupture in the peace process or a prelude to another s

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The denial highlights the ongoing scrutiny of political influence on financial policy, impacting the future of digital currency regulation. The post Bank of England governor denies Farage lobbying influenced CBDC policy appeared first on Crypto Briefing.

The post Canadian Dollar strengthens on Oil rally as Fed, jobs data loom appeared on BitcoinEthereumNews.com. USD/CAD trades around 1.4190 at the time of writing on Wednesday, down 0.10% on the day, as the Canadian Dollar (CAD) benefits from a sharp rebound in Oil prices fueled by renewed geopolitical tensions in the Middle East. United States (US) President Donald Trump said that the memorandum of understanding aimed at ending the conflict with Iran is now “over” and that he no longer wants to negotiate with Tehran. He also stated that the United States could launch new strikes against Iran as early as Wednesday night, raising the possibility of targeting strategic infrastructure, including the country’s electricity grid, water treatment facilities and Kharg Island, Iran’s main Oil export terminal. These remarks have reignited concerns about global Oil supply disruptions, with the Strait of Hormuz remaining at the center of investors’ attention. The strategic waterway handles around o

The post British Pound holds firm as Hormuz shock lifts Oil, Dollar appeared on BitcoinEthereumNews.com. The Pound Sterling (GBP) posts modest gains during the North American session on Wednesday amid growing tensions in the Middle East, as US President Donald Trump’s said the deal with Iran was “over” after both countries exchanged attacks over the last couple of days. At the time of writing, the GBP/USD pair trades at 1.3371, up 0.09%. GBP/USD steadies as geopolitical risk offsets Dollar strength During the last couple of days, Tehran and Washington exchanged blows after Iran hit two vessels sailing through the Strait of Hormuz, triggering a response from the US. The US CENTCOM reported that it attacked 80 targets during the last two days. In addition to the attacks, the US reimposed sanctions on Iran’s Oil, while Trump threatened to resume the blockade in Hormuz. Energy prices jumped, with the US crude Oil benchmark, West Texas Intermediate (WTI), rising nearly 5% to $75.60. The US

The post Japanese Yen: Oil shock weighs JPY against US Dollar – Scotiabank appeared on BitcoinEthereumNews.com. Scotiabank strategists Shaun Osborne and Eric Theoret highlight renewed weakness in the Japanese Yen (JPY), which is underperforming G10 peers and threatening fresh multi-decade lows as USD/JPY trades at levels last seen in 1986. They stress that surging Oil prices are a clear downside risk via Japan’s terms of trade, while the chart offers little guidance on resistance after the recent powerful rally. Multi-decade highs and downside risks “The yen is soft, down 0.2% vs. the USD and underperforming most of the G10 currencies into Wednesday’s NA session.” “The renewed weakness is worrisome following last week’s failed recovery and the yen looks to be threatening a break to fresh multi-decade lows.” “The latest resurgence in geopolitical tensions presents a clear downside risk for the yen, as surging oil prices deliver a crushing blow to Japan’s terms of trade.” “The USD/JPY ch