GBP/USD slides as US dollar firms on safe haven flows and Fed expectations By ross_burland GBPUSD Currencies DollarIndex
The BoE is set to hike for a third consecutive meeting despite the Russian invasion of Ukraine.is losing 0.45% after sliding from 1.3417 and reaching a low of 1.3317. Forex traders are weighing the impact of Russia's invasion of Ukraine against the Bank of England's monetary policy.
As yet Russian troops have not made it to the Ukraine capital Kyiv but there are confirmed attacks on civilians which potentially puts the long process of prosecution of war crimes into motion. Already, as many as 1 million people have been forced to flee Ukraine, the United Nations high commissioner for refugees said late Wednesday. The number of misplaced could reach as much as 4 million, the Ukraine Humanitarian Appeal say.
As for data on Thursday, Britain's services sector expanded at its fastest pace since June, according to the final IHS Markit/CIPS services Purchasing Managers Index. In the US, Omicron infections have fallen and this has seen the Jobless Claims data improve. The latest weekly data was considerably lower than expected at just 215,000 new claims. This comes before Friday's Nonfarm Payrolls.
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