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Jul 25 - 04:55 AM

GBP/USD - Back Below 1.20 As Fed Event Risk Looms Large

By Rob Howard  —  Jul 25 - 02:40 AM
  • 1.1962 marks the cable low since Friday's two-and-a-half week high of 1.2064

  • Friday's peak was scaled on July's sub-50 U.S. service PMI nL1N2Z31AP

  • 1.1918 was Friday's low (on July's sub-50 German PMIs, pre-UK PMI beats)

  • Fed rate decision Wednesday, second consecutive 75 bps hike f/c nL1N2Z60C8

  • HSBC expects 50 bps BoE hike next week (and another 50 bps BoE hike in Sept)

  • Truss vs Sunak TV debate on BBC1 from 2000-2100 GMT nL1N2Z407QnL8N2Z505I

Source:
Refinitiv IFR Research/Market Commentary

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