Forex Top Team

Aware of next week’s British and European events whether the dollar will continue to rise even ahead of the weekend

The dollar market was booming this week over the US FOMC. As FRB Chairman Jerome Powell’s interview was more hawkish than expected, US bond yields rose, the stock market plummeted, and the dollar’s exchange rate moved toward a stronger dollar. The dollar-yen pair rose to the 115-yen level, the euro-dollar pair fell to the 1.11 level, and the pound-dollar pair fell to the 1.33 level. Although it is easy for short-term sources to make adjustments ahead of the weekend today, the pressure to buy the dollar is likely to continue against the backdrop of a major shift in the US monetary authorities’ stance of tightening monetary policy.

In addition, the Bank of England and the ECB are scheduled to announce monetary policy on February 3, next week. The ECB has been shown to maintain a easing stance while being wary of inflation against the central bank, which is increasingly factoring in interest rate hikes in the market with the US FOMC. The temperature difference between the two tends to put pressure on buying pounds and selling euros. For next week. The trend of the euro-pound sterling market will be watched.

Looking ahead to next week, it is possible that GBP will gradually buy. I’m thinking of buying if it stops lowering.

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