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  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here: https://t.co/1oeXWEsJkb https://t.co/sGNzXICiX4
  • $EURGBP post BoE: https://t.co/LvrBFqfqOm
  • $GBPUSD stabilising after dip on BoE: https://t.co/EwAxuqo8g8
  • So in summary BoE marginally more dovish than expected, and that key word "transitory" is still there. "The Committee’s expectation is that the direct impact of rises in commodity prices on CPI inflation will be transitory."
  • BoE says "CPI inflation is expected to pick up further above the target, owing primarily to developments in energy and other commodity prices, and is likely to exceed 3% for a temporary period."
  • BoE - Staff upwardly revised UK Q2 GDP by 1.5% from May Report BoE - Inflation likely to exceed 3% for a temporary period. GBP/USD falls to day's low of 1.3912 #boe #gbpusd @DailyFXTeam
  • BoE says - bank staff revise up their expectations for UK GDP in Q2 by 1.5% since May report - Inflation likely to exceed 3% for a temporary period
  • Initial reaction in $GBPUSD to Bank of England negative https://t.co/vnngWrp2fk
  • Vote on QE was 8-1, with Haldane dissenting - GBP sold given hawkish expectations heading into the meeting https://t.co/UgjDh0yPwv
  • 🇬🇧 BoE Quantitative Easing Actual: £875B Expected: £875B Previous: £875B https://www.dailyfx.com/economic-calendar#2021-06-24
US Dollar Index Classical Technical Report 03.14

US Dollar Index Classical Technical Report 03.14

Joel Kruger, Technical Strategist
Daily_Classical_DXY_body_dxy.png, US Dollar Index Classical Technical Report 03.14

US DOLLAR INDEX: The market remains locked in a multi-day consolidation and should continue to chop between the 9,600-10,100 area. Overall, we do retain a bullish outlook given the broader recovery structure out from a major base in 2011 and therefore recommend looking to buy on dips. The recent break back above 9,900 should now confirm and accelerate gains while ultimately only back under 9,740 delays.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

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