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Oct 10 - 06:55 AM

GBP/USD - Falls To October Low As Geopolitical News Impacts

By Rob Howard  —  Oct 10 - 04:45 AM
  • Cable falls to 1.1028 as safe-haven USD strengthens on geopolitical news

  • Russia bombs cities across Ukraine in apparent revenge strikes nL8N31A0IM

  • 1.1028 is lowest level since September 30 (1.1025 was the low that day)

  • GBP negatively impacted by higher gilt yields as BoE programme nears expiry

  • See: nS8N30J05FnL8N31B0VI. 1.1057 is now a GBP/USD resistance level

  • 1.1057 was Friday's low (after solid U.S. jobs data lifted the dollar)

Source:
Refinitiv IFR Research/Market Commentary

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