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Oct 20 - 07:55 AM

GBP/USD - Respects Two-Week Low After UK Data-Spurred Drop

By Rob Howard  —  Oct 20 - 06:15 AM
  • Cable elicited support by 1.2093 after GBP fell on weak UK retail sales data

  • 1.2093 was two-week low Thursday. 1.2120-1.2145 was Asia range (pre-UK data)

  • GBP/EUR down to 24-week low of 1.1442 on worse than expected UK retail sales

  • Risk of another BoE rate hike declines on UK retail sales miss nL1N3BQ0NZ

  • UK budget deficit smaller than expected in September nL8N3BQ1DL

  • Labour on course to win power in UK in 2024 after two by-election victories

Refinitiv IFR Research/Market Commentary


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