GBP/USD falls to fresh lows under 1.2400 since 1 June
The pound continues to encounter some heavy selling this week, with the technical exhaustion starting to show after the recent move to 1.2800 last week.

BofA raises its EUR/USD forecast for Q3 to 1.08 from 1.02 previously
The firm’s head of G-10 currency strategy, Athanasios Vamvakidis, said in a note to clients that their forecast may represent some downside but argues that the downside in the pair is likely to be more limited in the near-term.

Forex news from the European trading session – 18 June 2020
Headlines:
Markets:
– JPY leads, GBP lags on the day
– European equities lower; E-minis down 0.5%

The monetary policy summary from the Bank of England – 18 June 2020
The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. In that context, its challenge at present is to respond to the severe economic and

Cable rises from 1.2490 to 1.2550 before fading gains at the moment
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A couple of key takeaways from the BOE decision earlier:

BOE announces its latest monetary policy decision – 18 June 2020
– 0.10%
– Bank rate votes 0-0-9 vs 0-0-9 expected
– Asset purchase program total £745 billion (increase of £100 billion)

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Comments by German finance minister, Olaf Scholz
Otherwise, it is going to be the case of putting the fire out whenever there is one because the economic and social damage is just too heavy a burden to bear for governments.

Latest data from the Mortgage Bankers Association for the week ending 12 June 2020
– +8.0%
– Market index 846.9 vs 784.5 prior
– Refinancing index 3,891.5 vs 3,529.0 prior
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Headlines from the Chinese state media
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