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GBP Surges, SEK Tumbles, Fed Minutes Take Center Stage

JFD

The pound was the big winner among the G10 currencies, with Cable surging nearly 1.3% and breaking back above the psychological barrier of 1.3000. The Swedish Krona was the main loser, tumbling after Sweden’s disappointing inflation data for January. As for today, the Fed releases the minutes of its latest gathering. We believe that investors will dig into the minutes for clues with regards how long the Committee could stay patient, as well as any information with regards to the balance sheet normalization.

Cable Surges Above 1.3000, Krona Slides on Disappointing Inflation

The dollar traded lower against most of the other G10 currencies on Tuesday. The big gainer was GBP, with NOK taking the second place, but still well behind the British currency. The greenback gained only against SEK and JPY, while it traded nearly unchanged against NZD.

Although the commodity-linked currencies failed to capitalize notably, someone could stay that the weakening of both the dollar and the yen suggests an improvement in the broader market sentiment. However, taking a look at the performance of the equity market, we see that...

Read the full financial markets daily report on JFD Research.

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Source: https://www.jfdbrokers.com/en/research/gbp-surges-sek-tumbles-fed-minutes-take-center-stage
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