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May 30 - 04:55 AM

GBP/USD - 1.2675 Support Intact After Stock Losses, BHP News

By Rob Howard  —  May 30 - 04:15 AM
  • Cable elicits support pre-1.2675 after stock losses hurt risk-sensitive GBP

  • 1.2675 was double-day low last week (May 20/24). 1.2699 was Wednesday's low

  • BHP ended its 38 bln pound pursuit of Ldn-listed Anglo American on Wednesday

  • News of BHP's initial offer for Anglo lifted the pound last month (April 25)

  • UK election news: first Sunak-Starmer televised debate confirmed for June 4

  • Opinion polls suggest Starmer's Labour Party will win big majority on July 4

Source:
Refinitiv IFR Research/Market Commentary

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