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Oct 19 - 06:55 AM

GBP/USD - Drops To Two-Week Low By 1.21 As UST Yields Rise

By Rob Howard  —  Oct 19 - 05:05 AM
  • Cable hits 1.2103 after extending south from 1.2211 (Wednesday's high)

  • 1.2103 is lowest level since Oct 4 (1.2107/08 was double-day low, Oct 5/6)

  • Dollar supported by higher UST yields; 10-year up to 16-year high by 5%

  • Risk-sensitive pound weighed down by global equity losses nL1N3BP0FJ

  • US jobless claims due 1230 GMT; 212k f/c. Fed's Powell speaks at 1600 GMT

  • 1.2039 was GBP/USD 29-week low on Oct 4 (before UK services PMI revised up)

Source:
Refinitiv IFR Research/Market Commentary

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