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May 30 - 04:55 AM

GBP/USD - Remains Above 1.26 As Equity Mood Stays Positive

By Rob Howard  —  May 30 - 03:00 AM
  • Cable has traded a 32.5 pip range thus far Monday; 1.2657 = intra-day high

  • 1.2657 is 9.5 pips shy of Friday's one-month peak. 1.2620 was Thursday high

  • Risk-sensitive pound supported by equity gains: Nikkei up 2.19% nL4N2XM11N

  • U.S. stock futures positive, after big gains Friday nL4N2XM16NnL2N2XJ214

  • IMM speculators maintained big net GBP short position in week ended May 24

  • 80,372 contracts (32-month high) nL2N2XJ1R5. UK holidays Thursday-Friday

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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