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Apr 11 - 03:55 AM

GBP/USD - Drops Back Below 1.30 After UK Feb GDP Miss

By Rob Howard  —  Apr 11 - 02:35 AM
  • Cable falls to 1.2990 following weaker than expected UK Feb GDP data, +0.1%

  • See: nL5N2W90Y3. 1.2990 = intra-day low. 1.2983 was Friday's 17-month low

  • USD supported by higher UST yields; 10-year up to 2.78% in Asia nL2N2W9097

  • Higher UST yields fuelled by expectation of aggressive Fed rate hikes

  • GBP/USD bear targets include 1.2854 (Nov 2020 low) and 1.2676 (Sep 2020 low)

  • UK's Sunak considered resigning over tax criticism-Sunday Times nL2N2W70EG

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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