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Oct 21 - 07:55 AM

GBP/USD - Falls To One-Week Low On Weak UK Data, Johnson Risk

By Rob Howard  —  Oct 21 - 05:55 AM
  • Cable slides to 1.1113 as weak UK data and Johnson return risk hurt GBP

  • 1.1113 is lowest level since Oct 13 (1.1061 was the low that day)

  • UK Sept retail sales down 1.4% MM vs -0.5% f/c nL8N31M12K

  • Johnson second favourite to be Britain's next PM nL1N31M0KGnL1N31M0JA

  • USD buoyed by higher UST yields: 10-year up to 4.29% (highest since 2007)

  • 1.1153 and 1.1172 (Thursday's low) are now GBP/USD resistance levels

Source:
Refinitiv IFR Research/Market Commentary

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