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Oct 09 - 05:55 AM

GBP/USD - Falls To Lowest Level For Nearly Four Weeks

By Rob Howard  —  Oct 09 - 03:50 AM
  • Cable drops to 1.3057, low since Sept 12, as dollar adds to recent gains

  • 1.3057 is 2.5 pips under Monday's low (1.3050 is 50% of 1.2666-1.3434)

  • USD underpinned by hawkish shift in Fed expectations since big NFP beat

  • Pound weighed down by dovish guidance from BoE chief Bailey last week

  • UK finance minister Reeves to unveil budget on Oct 30 (first since election)

  • Reeves likely to free up borrowing by excluding BoE losses, Guardian reports

Source:
Refinitiv IFR Research/Market Commentary

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