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Jul 04 - 08:55 AM

GBP/USD - Rises Through 1.2150 On WSJ's Biden-Tariffs Report

By Rob Howard  —  Jul 04 - 08:10 AM
  • Cable climbs to 1.21562 as risk-sensitive pound benefits from WSJ report

  • WSJ-Biden might soon soften Chinese tariffs. 1.2162 = intra-day high

  • 1.2162 is also the highest level since Friday's two-week low of 1.1976

  • Trump-era tariffs on China have been under review by Biden since May

  • See: nL2N2X21K4nL1N2Y80E6. Lifting them would be positive for risk

  • Offers expected pre-1.22 if GBP/USD extends north (1.2189 was Thursday high)

Source:
Refinitiv IFR Research/Market Commentary

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