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Jun 17 - 06:55 AM

GBP/USD - Reclaims 1.23 Handle As Volatility Rules

By Rob Howard  —  Jun 17 - 05:10 AM
  • Cable rises to 1.2340 following its early Europe drop to threaten 1.2250

  • See: nL1N2Y40B6. Gyrations follow Thursday's leap from 1.2042 to 1.2405

  • Short-covering aided leap (IMM speculators hold big net GBP short position)

  • Tesco says Britons buying less and trading down to navigate inflation

  • See: nL8N2Y40U8. UK May CPI data due June 22; 9.1% YY f/c (Reuters poll)

  • BoE expects UK CPI to rise to 11% (in October) nL1N2Y30SYnL1N2Y30QF

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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