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Jan 31 - 04:55 AM

GBP/USD - Below 1.27 Before Fed Event Risk

By Rob Howard  —  Jan 31 - 02:50 AM
  • Cable met headwind at 1.2700 after rallying off 1.2641 (Tuesday's low)

  • 1.2667 is subsequent low. There is a 1.2700 option expiry today (pre-Fed)

  • Tuesday's low was plumbed after dollar strengthened on strong US data

  • 1.2641 was lowest level since Jan 17. Fed event risk from 1900 GMT

  • UK businesses start 2024 with confidence at two-year high - Lloyds survey

  • UK Jan house prices up 0.7% MM vs 0.1% f/c - Nationwide. BoE MPA Thursday

Source:
Refinitiv IFR Research/Market Commentary

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