FX Morning Update

The US Dollar is regaining safe-haven properties amid a tech-led momentum reversal, while GS Trading builds short GBP positions ahead of a dovish-leaning Bank of England outlook.

Key Takeaways

• 1.The US Dollar is regaining its safe-haven status as market risk-off sentiment shifts from US policy concerns to a tech-momentum reversal.
• 2.GS Trading is tactically building short GBP positions (long EURGBP) ahead of the Bank of England meeting and UK May elections.
• 3.Goldman Sachs expects the Bank of England to be more dovish than current market pricing, forecasting a terminal rate of 3%.

Table of Contents

• USD: Non-US Policy Driven Risk Off, USD Safe Haven Properties Returning
• GBP: Adding GBP Shorts, BoE Preview (12:00 GMT)
• EUR: ECB Preview (13:15 GMT)
• Meme Of The Day

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial