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Oct 11 - 11:55 AM

GBP/USD - CORRECTED-BUZZ-GBP/USD Up By Nearly Three Cents In A Week

By Rob Howard  —  Oct 11 - 09:35 AM

corrects date of low

  • Cable reaches 1.2323, high since Sept 21, after adding to recent gains

  • Those gains have been aided by profit-taking on short positions

  • IMM speculators flipped to first net GBP short since April in week to Oct 3

  • 1.2039 was 29-week low on Oct 4, before UK services PMI upwardly revised

  • UK August GDP data due on Thursday at 0600 GMT; growth of 0.2% expected

  • US House Republicans eye Scalise, Jordan in speaker race nL1N3BH1AU

Source:
Refinitiv IFR Research/Market Commentary

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