On Wednesday (Oct 19), / rose, temporarily trading at 1.1345, up 0.15%.
Said the first gilt sale would take place on November 1, with the government’s fiscal announcement scheduled for October 31.
The boe now expects to conduct Treasury sales under the Asset Purchase Facility (APF) in the fourth quarter of 2022 on a similar scale and frequency as previously announced, with any shortfalls due to delays in previous sales to be incorporated into subsequent quarterly sales.
The Bank will continue to monitor market conditions closely and, where appropriate, incorporate them into the design of gilt sales operations.
GBP/USD failed to find a acceptance point above the 1.1300 level, giving bullish traders reason to be cautious.
The above handle is in line with the 200-period SMA on the 4-hour chart and should pave the way for some meaningful upside if clearly cleared.
