Sterling (GBP) and FTSE 100 News, Prices and Analysis:
British Pound (GBP) – Weak Against the USD, Battles the Euro
The British Pound continues to trade in the doldrums and will need fresh stimulus to try and regain a semblance of strength against the US dollar. Against the Euro, Sterling is faring slightly better, while against other currencies, notably the New Zealand dollar, the pound is making marginal gains. Just after we finished the webinar, the Fed announced unlimited QE, weakening the US dollar slightly, but the greenback will retain its status as the number one safe-haven asset of choice.
Dow Jones Rises, USD Drops as Fed Announce Unlimited QE
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GBP/USD Daily Price Chart (January 2017 – March 23, 2020)
| Change in | Longs | Shorts | OI |
| Daily | 3% | -7% | -3% |
| Weekly | 4% | -10% | -5% |
FTSE 100 Gains Remain Limited as Coronavirus Fear Spread
The FTSE 100 trades near its multi-year low but, post-webinar, has popped back above the 5,000 level after the Fed announcement. Further gains will be limited unless the UK follows government guidelines, or a total lock down will be imposed in London.
FTSE 100 Daily Price Chart (September 2019 – March 23, 2020)
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What is your view on Sterling (GBP) and the FTSE – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.
