08 Februari 2023, GBP/USD
GBPUSD trading plan:
Federal Reserve Chairman Jerome Powell said Tuesday the U.S. central bank has some distance left to run in terms of shrinking its balance sheet. "It will be a couple of years" before the balance sheet reduction process concludes, Powell said. Noting that the current effort is passive, Powell also said selling bonds, rather than allowing them to mature and not be replaced, is "not something on the list of active things” officials are considering. The Fed's process of reducing its holdings of Treasury and mortgage bonds began last summer and is designed to largely on autopilot alongside the central bank's ongoing effort to raise rates to lower high levels of inflation. As of last autumn, the Fed began to allow just under $100 billion per month of bonds to mature, and it has been sticking to that pace without signaling any looming changes.
Investment idea: range 1.1995 -1.2111.
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