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Sep 06 - 04:55 AM

GBP/USD - Near 1.16 Before Truss Replaces Johnson As UK PM

By Rob Howard  —  Sep 06 - 03:05 AM
  • Cable rises to 1.1609 before Liz Truss replaces Boris Johnson as British PM

  • See: nL1N30D0AI. 1.1609 is the highest level since Thursday (Sept 1)

  • 1.1609 is also the high water-mark since Monday's 30-month low of 1.1444

  • Ascent from 1.1444 aided by some profit-taking on short GBP positions

  • MPC hawk Mann says UK may need 'fast and forceful' rate rises nL8N30C3NY

  • Markets currently see 81% chance of 75 bps BoE hike next week 0#BOEWATCH

Source:
Refinitiv IFR Research/Market Commentary

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