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Aug 18 - 04:55 AM

GBP/USD - Drops Closer To 1.20 Again Amid UK Growth Fears

By Rob Howard  —  Aug 18 - 02:50 AM
  • Cable falls to 1.2013 as risk of sharper UK economic slowdown weighs on GBP

  • 1.2013 is low since Wednesday's 1.2143 knee-jerk high after hot UK CPI data

  • UK GDP will be negatively impacted by BoE rate hikes to fight high UK CPI

  • See: nL8N2ZT21U. 9% chance of 75 bps BoE hike on Sept 15 0#BOEWATCH

  • Bids pre-1.2000 based GBP/USD losses on Tuesday and Aug 5 (after NFP beat)

  • Truss maintains big lead over Sunak in leadership contest-poll nL8N2ZU1A1

Source:
Refinitiv IFR Research/Market Commentary

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