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Mar 24 - 07:55 AM

GBP/USD - Supported By UK PMI Beats After Drop To 6-Week Low

By Rob Howard  —  Mar 24 - 05:48 AM
  • Cable hit 1.3728 after UK flash PMI beats: service 56.8 v 51.0 f/c

  • See: nL8N2LL63K. 1.3728 = highest level since 1.3675 early London low

  • 1.3675 was plumbed after surprise UK inflation dip nL8N2LM1HL

  • GBP/USD rallied into 0930GMT UK PMI data, courtesy of German PMI beats

  • See: nL8N2LL6F7. Pound is risk-sensitive currency; USD is safer-haven

  • Offers may emerge near 1.3752 (Tuesday's Ldn am low) if cable extends north

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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