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Jun 16 - 07:55 AM

GBP/USD - Reclaims 1.21 Handle As SNB Ups BoE Rate Hike Ante

By Rob Howard  —  Jun 16 - 05:45 AM
  • Cable reaches 1.2135 after extending north from 1.2059 (intra-day low)

  • 1.2059 was plumbed a few minutes before the SNB's shock 50 bps rate hike

  • See: nL1N2Y30I0. Hawkish SNB raises rate hike stakes for BoE and GBP

  • Economists expect 25 bps BoE hike; 50 bps is the alternative nL8N2Y13AZ

  • GBP/USD might jump towards 1.22 if BoE raises rates by half-a-point

  • 1.2205 was Wednesday's high (after Fed hike). 1.2210 was Tuesday's top

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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