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Jul 27 - 08:55 AM

GBP/USD - Respects Three-Week High Before Fed Event Risk

By Rob Howard  —  Jul 27 - 07:20 AM
  • Cable met headwind just shy of 1.2090 after rallying off 1.2039 (Ldn am low)

  • 1.2090 was Tuesday's 3-week top (before EUR/USD loss-spurred drop to 1.1965)

  • GBP/EUR rose to 10-week high just beyond 1.19 during Ldn am nL1N2Z80OE

  • Fed rate decision 1800 GMT; second consecutive 75 bps hike f/c nL1N2Z71DY

  • Trailing in leadership race, Sunak pitches energy bill tax cuts nL8N2Z83OZ

  • Truss is favourite to succeed Johnson as UK PM on September 5 nL8N2Z7616

Source:
Refinitiv IFR Research/Market Commentary

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