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Oct 05 - 06:55 AM

GBP/USD - Reclaims 1.14 Handle As UK Service PMI Revised Up

By Rob Howard  —  Oct 05 - 04:45 AM
  • Cable rises to 1.1415 after UK Sept service PMI revised up to 50, from 49.2

  • See: nZRN00594K. Service sector is dominant segment of UK economy

  • 1.1380 was intra-day low shortly before UK PMI data, as stocks swooned

  • See: nL8N3161U9nL4N3161FM. GBP is risk-sensitive; USD is safe-haven

  • 1.1493 was three-week GBP/USD high at 0646 GMT nL1N3160CUnL1N3160H4

  • UK PM Truss to address Tory Party conference this morning (BST) nL1N3160AY

Source:
Refinitiv IFR Research/Market Commentary

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