Open: London Session | Forex, Metals, Oil, Agriculture September 27, 2022



Speculators bet the pound is heading to parity with the dollar, Goldman goes underweight stocks, it s selloffs as far as the e View in browser Good morning. The pound s collapse against the dollar hogs the attention, but is driven in large part by the phenomenal strength of the greenback . The S&P 500 just sank to the lowest since December 2020 as the pound weakened to records, while commodities buckled under the weight of a hulked-up dollar. The implied volatility on DXY (the dollar index) is rising and is the highest it has been since Covid.
Stronger dollar, also not surprising.


But setting an oil-price cap as agreed by G-7 leaders seems more elusive and will need more time.

United States

Meanwhile, the UK cash rate is expected to hit almost 6% in a year, more than a percentage point above the 4.7% or so priced for the Fed. The Fed is not a surprise.


Internet Infrastructure | The EU wants streaming sites like YouTube and Netflix to help pay for internet infrastructure.