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Oct 11 - 03:55 AM

GBP/USD - Eases To Intra-Day Low After UK Aug GDP Matches F/C

By Rob Howard  —  Oct 11 - 02:20 AM
  • Cable eases to 1.3045 intra-day low after UK August GDP matches 0.2% f/c

  • 1.3048 was low shortly before the UK data release (1.3065 was Asia high)

  • UK August GDP match underpins expectation that BoE will cut rates on Nov 7

  • Next Fed rate decision on Nov 7 too (post-BoE): Bostic open to a skip

  • 1.3011-1.3094 was Thursday's GBP/USD range (1.3011 = one-month low)

  • UK budget Oct 30: Reeves is considering raising CGT to 39%, Guardian says

Source:
Refinitiv IFR Research/Market Commentary

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