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May 23 - 11:55 AM

GBP/USD - Near 1.35 Before Call Between EU-US Trade Chiefs

By Robert Howard  —  May 23 - 09:48 AM

• Dollar selling fuelled cable rise to new 39-month high of 1.3533 at 1247 GMT

• Start point for upleg to 1.3533 was 1.3474 (six pips above Wednesday's high)

• That 1.3474 low was plumbed as EUR/USD sank on Trump's 50% EU tariff threat

• EUR/GBP simultaneously fell to lowest level since April 3 as EUR/USD sank

• Cable high before Trump's EU post was 1.3515, as Trump's Apple post hurt USD

• EU trade chief Sefcovic and U.S. counterpart Greer due to speak at 1500 GMT

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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