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Jul 06 - 03:55 AM

GBP/USD - Hovers Above 28-Month Low With Johnson On The Brink

By Rob Howard  —  Jul 06 - 02:35 AM
  • Cable hits 1.1913 after extending south from 1.1972 (Asian session high)

  • 1.1899 was Tuesday's 28-month low, courtesy of demand for safe-haven USD

  • UK political uncertainty and growth concerns are helping weigh on GBP

  • PM Johnson on the brink as ministers quit nL1N2YN08LnL8N2YM5IL

  • GBP/USD bear targets include 1.18 and 1.15 (1.1413 was March 2020 low)

  • BoE won't let high inflation get embedded, Cunliffe says nL8N2YN0NX

Source:
Refinitiv IFR Research/Market Commentary

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