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Oct 21 - 03:55 AM

GBP/USD - Eyes Intra-Week Low After UK Retail Sales Miss

By Rob Howard  —  Oct 21 - 02:35 AM
  • Cable eases to 1.1178 after worse than expected UK Sept retail sales data

  • Down 1.4% MM vs -0.5% f/c, down 6.9% YY vs -5.0% f/c nL8N31M12K

  • 1.1178 is six pips shy of Thursday's intra-week low (pre-Truss exit news)

  • 1.1338 was Thursday's high, after Truss resigned as UK PM nL8N31L1BQ

  • USD buoyed by higher UST yields: 10-year up to 4.27% nL4N31M12V

  • 1.1153 (last Friday's low) is a GBP/USD support point below 1.1172

Source:
Refinitiv IFR Research/Market Commentary

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