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Jan 02 - 08:55 AM

GBP/USD - Breaks Below 1.27 As Dollar Catches New Year Bid

By Rob Howard  —  Jan 02 - 06:45 AM
  • Cable drops to 1.2663 as USD catches new year bid (after year-end USD sales)

  • 1.2663 is lowest level since Dec 21 (1.2825 was 21-week high on Dec 28)

  • EUR/USD back below 1.10 vs 22-week high above 1.11 last week (Dec 28)

  • Bids may emerge pre-1.2600 if GBP/USD falls further (1.2613 was Dec 21 low)

  • UK Dec manufacturing PMI revised down to 46.2, from 46.4 flash estimate

  • UK general election expected in spring or autumn this year nL1N3DS0HK

Source:
Refinitiv IFR Research/Market Commentary

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