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The pound is not immune to Boris’ health

GBP/USD has been clinging onto range as Brits await news regarding the PM’s condition, NDDFX’s analyst Yohay Elam reports.

Key quotes

“Updates from St. Thomas hospital in central London are few and far apart – keeping Brits on edge and in markets, holding GBP/USD in a tight range after initially falling in response to Johnson’s ICU admittance.”

“The broader market mood is mixed. Early advances in S&P futures are marginally weighing on the greenback.”

“Coronavirus headlines and especially updates on the PM’s condition are set to dominate trading during the day. Any improvement could boost the pound while worrying news could weigh on it.” 

“Late in the day, the Fed publishes its Meeting Minutes from the recent emergency meetings. The document may reveal how worried officials were before taking these decisions and perhaps what more they have in store.”

 

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