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Jan 31 - 05:55 AM

GBP/USD - Drops Towards 1.23 As Month-End Approaches

By Rob Howard  —  Jan 31 - 04:00 AM
  • Cable falls to 1.2311 as USD recoups some of its Jan losses before month-end

  • 1.2311 is lowest level since Jan 25 (1.2286 was low that day)

  • Safe-haven USD benefits from negative start for European stocks nL4N34G1VQ

  • 1.2300 and 1.2264 (Jan 24 low) are support levels either side of 1.2286

  • February gets underway with Fed event risk, before BoE steps up to plate

  • UK public inflation expectations cool again: Citi/YouGov survey nL8N34G20P

Source:
Refinitiv IFR Research/Market Commentary

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