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Dec 20 - 08:55 AM

GBP/USD - Holds Sub-1.22 After BoJ-Generated Volatility

By Rob Howard  —  Dec 20 - 07:25 AM
  • Cable ran into resistance just shy of 1.22 after extending north from 1.2086

  • 1.2086 was lowest level since Dec 1, as BoJ roiled markets nL1N33A0F1

  • BoJ sprung hawkish policy surprise (at 0300 GMT) nL1N33A01AnL4N33A1OY

  • 1.2219 was intra-day high for GBP/USD as USD/JPY tanked on BoJ shock

  • GBP/JPY also fell sharply, from 167 to two-month low near 160 nL1N33A0MD

  • UK's Nationwide forecasts 5% British house price fall for 2023 nL8N33A27Z

Source:
Refinitiv IFR Research/Market Commentary

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