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Jun 11 - 05:55 AM

GBP/USD - Dips On Unexpected Rise In UK Jobless Rate

By Rob Howard  —  Jun 11 - 04:05 AM
  • Cable eases to 1.2715 on unexpected rise in UK jobless rate, to 4.4%

  • 1.2715 is intra-day low (1.2740 = intra-day high; 1.2743 was June 4 low)

  • UK jobless rate rise is boost for doves advocating BoE rate cut in August

  • 7th consecutive BoE hold expected next week (two weeks before UK election)

  • Two-day Fed meeting gets underway later. Will Fed cut rates in September?

  • 1.2689 was GBP/USD low Monday, as EUR/USD slid on French election news shock

Source:
Refinitiv IFR Research/Market Commentary

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