Today’s Notable Sentiment Shifts
GBP – Sterling eventually strengthened on Thursday, with GBPUSD briefly touching its highest level in three weeks, with the UK government’s latest measures to help alleviate a cost of living crisis seen supporting the economy in the short term.
Commenting on the UK’s announcement, Macro Hive stated, “this (package of measures) is a good thing for growth in the short-term, … The UK government has so far been very tight with the purse strings and this should make the BoE’s job of tightening a bit easier as it provides a bit of an offset to the cost of living crisis.”
Commenting on the UK’s announcement, Macro Hive stated, “this (package of measures) is a good thing for growth in the short-term, … The UK government has so far been very tight with the purse strings and this should make the BoE’s job of tightening a bit easier as it provides a bit of an offset to the cost of living crisis.”
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