ANALYSIS
NQ100 Finds Support from PPIApr 14
Britain's New Prime Minister Couldn't Recover The Pound, Either
Rishi Sunak is the new British Prime Minister. Although the Prime Minister's first statements were to restore confidence, he did not give a clear answer to the question "Will the fight against inflation be a priority in economic policies?" This did not make it possible for the pound to rebound significantly in current terms. On the other hand, the expectation that the US Federal Reserve (FED) will raise interest rates by 75 basis points in its upcoming November meeting supports the dollar, while parity defends the downward trend. At this point, as long as 1.1425, which is indicated by the 50-period exponential moving average, is maintained as resistance above, the risk of the parity falling to 1.1075 behind 1.1190 is quite high.
