Will the pound's rebound continue?

Will the pound's rebound continue?

19.10.2021

Yesterday, in the U.S. market, two of the three major stock indices rose, resulting in a market environment characterized by rising stock prices, flat interest rates, and a stronger U.S. dollar. WTI crude oil fell from its intraday high of $83.10 and has since settled around $81.70. Concerned about soaring oil prices, the Japanese government agreed yesterday to urge OPEC+ to increase production at its meeting early next month.

In the foreign exchange market, the GBP/USD pair continues to rebound. It is currently trading around 1.376 and has just reached the 120-day moving average on the daily chart. If the upward trend continues, the recent high of around 1.382 will likely be the short-term target. Additionally, with several major U.S. companies set to release their earnings reports today, we should closely monitor the direction of the U.S. dollar.

Today’s schedule includes remarks by MPC member Mann at 7:00 PM, remarks by BOE Governor Bailey at 9:05 PM, U.S. housing starts and building permits at 9:30 PM, remarks by MPC member Pill at 10:00 PM, and remarks by U.S. Federal Reserve Governor Daly at midnight:San Francisco Fed President, at 1:15 AM: U.S. Richmond Fed President Barkin’s remarks, at 2:15 AM: U.S. Fed Governor Bowman’s remarks, at 3:50 AM: U.S. Atlanta Fed President Bostic’s remarks, and at 4:00 AM: U.S. Fed Governor Waller’s remarks.We should pay close attention to these overlapping remarks by key figures during U.S. trading hours and carefully assess currency strength relative to the U.S. dollar.

Past Market Reports

1. 17.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

2. 16.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

3. 15.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

4. 14.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

5. 13.04.2026New

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

6. 10.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

7. 09.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

8. 08.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

9. 07.04.2026

   Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed