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12 Oct 2022

UK’s Rees-Mogg: There doesn't seem to be a systemic problem in pension funds

UK Business Minister Jacob Rees-Mogg said on Wednesday, “there doesn't seem to be a systemic problem in pension funds.”

Additional comments

BOE independence is fundamental to UK stability.

I've got confidence in BOE Governor Andrew Bailey.

Bailey is a respected governor.

Shouldn't be surprised by market moves.

You have to be careful about economic forecasts, most turn out to be inaccurate.

Market reaction

The British pound is digesting the latest dismal UK data, paying little heed to the above comments. The pair was last seen trading at 1.1000, up 0.38% so far.

Oct 12, 2022

AUD/USD finds fresh demand below 0.6250 as risk-on profile emerges, US Inflation buzz

The AUD/USD pair has defended the downside bias firmly after sensing a decent buying interest at around 0.6240. The asset has extended its gains to ne
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Oct 12, 2022

Gold Futures: Probable rebound near term

Open interest in gold futures markets shrank by around 3.1K contracts on Tuesday, reversing three consecutive daily builds according to preliminary re
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