EURGBP selloff reflects the ECB/BoE divergence | MarketTalk: What’s up today? | Swissquote

Last week ended on a very positive note for the US equity markets. All major indices rallied, the S&P500 notched its best week in more than a year and toped the 6000 level for the first time in history. During the weekend, the Trump optimism continued to show in Bitcoin prices. The price of a coin spiked past the $81’000 level, and the next natural target on the grill is the $100’000 psychological level. Elsewhere, worries mount: FTSE 100 and the European Stoxx 600 index both closed last week below the 200-DMA on worries about a heated international trade environment and the Chinese leg of the story is much less dreamy, too. Big banks are back to cutting their growth forecasts for China. Crude oil and iron ore are under a renewed pressure since Friday. Inside FX, the euro and sterling are giving back field against a broadly stronger US dollar. But the Bank of England’s (BoE) less dovish stance after the UK budget is countered by a broad-based dollar strength, combined with more dovish European Central Bank (ECB) expectations due to Trump threat drives the EURGBP lower. Listen to find out more!