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Mar 17 - 02:36 PM

GBP/USD - Up Half-A-Cent After Ldn Fix Drop To 1.2000

By Rob Howard  —  Mar 17 - 12:55 PM
  • Cable rallies to 1.2057 after sliding to 1.2000 at the London fix

  • 1.2000 = lowest level since Sept 3 (1.1959 was the low that day)

  • 1.20 = 12 cents below five-week high at the start of last week (March 9)

  • Drop to 1.20 fuelled by risk aversion: USD is a safer-haven than GBP

  • Fed revives commercial paper facility to boost lending nL1N2BA0PK

  • Virus may take GBP to places even Brexit couldn't reach nL1N2BA09D

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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