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Sep 12 - 05:55 AM

GBP/USD - Jumps Towards 1.17 As Dollar Sags While Stocks Gain

By Rob Howard  —  Sep 12 - 03:35 AM
  • Cable hits 1.1690 after extending north from 1.1612 (post-UK GDP miss low)

  • 1.1690 is highest level since August 31 (1.1693 was the high that day)

  • Jump to 1.1690 fuelled by USD selling as European shares open higher

  • See: nL4N30J0W5. USD is safe-haven. UK July GDP +0.2% nL8N30J0OG

  • IMM speculators raise net GBP short position to five-week high nL1N30J06R

  • U.S. and UK inflation data this week; Fed and BoE rate decisions next week

Source:
Refinitiv IFR Research/Market Commentary

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