embargo against Russia, but German Finance Minister Lindner said that a ban on Russian gas imports would be more harmful to Germany than Russia.
Over the weekend, BoE’s Deputy Governor Cunliffe crossed the wires. He expressed that while he “recognizes the risk of second-round effects and that further tightening of monetary policy might be necessary, I am not at present convinced that we will inevitably have to lean heavily and constantly against an embedding of an inflationary psychology as we progress through this challenging period and as the impact.
On the Fed speaking side, Fed Governor Lael Brainard said that the US central bank “is prepared to take stronger action if inflation and inflation expectations suggest the need to do so.” She added that policy would be tightened “methodically” with a series of interest rates and would begin to lower the balance sheet as soon as the May meeting., a gauge of the greenback's value against a basket of its rivals, advances 0.30%, sits at 99.
With that said, the GBP/USD first support level is November 13, 2020, daily low at 1.3105. A decisive break would expose the March 29 swing low at 1.3050, followed by the confluence of the bottom-trendline of the descending channel and the YTD low at 1.2999.