4 Global Market Updates- 26 August, 2022

 

In this article, we have covered the highlights of global market news about the GBP/USD, EUR/USD, XAU/USD and USD/TRY.
GBP/USD: A break below 1.1730 is likely due to the USD’s strength, according to ING.

GBP/USD has changed course from Thursday when it saw modest daily gains. If the dollar gains strength after today’s speech by Jerome Powell in Jackson Hole, a break under 1.1730 is possible.

“Cable should mostly follow the dollar’s response to Jackson Hole. The USD strengthening may easily lead to a break below this week’s lows of 1.1730 since 1.1500 (the bottom of the 2020 flash crash) is no longer seen as a distant possibility.

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