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May 18 - 05:55 AM

GBP/USD - Drops To Intra-Day Low As Yuan Falls Further Vs USD

By Rob Howard  —  May 18 - 03:50 AM
  • Cable falls to 1.2453 as USD/CNH adds to recent gains nL1N37F0EZ

  • 1.2453 is lowest level since Wednesday's high of 1.2510 nL1N37F0FA

  • Bids may emerge ahead of 1.2422 if GBP/USD extends south

  • 1.2422 was Wednesday's three-week low, after USD/CNH cracked 7 nL4N37F0OJ

  • BoE's Pill to speak at 0845 GMT, before Bailey testimony on QT from 0915 GMT

  • US jobless claims and Philly Fed survey due 1230 GMT; 254k and -19.8 f/c

Source:
Refinitiv IFR Research/Market Commentary

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