By Robert Howard — Jan 02 - 09:38 AM
• Cable hits 1.2435 after extending south from 1.2534 (early London high)
• 1.2435 is lowest level since April 2024 (1.2299 was low that month)
• USD buoyed by event risk of Trump presidency, expected Fed hold on Jan 29
• Scope for BoE rate cut next month (Feb 6) is helping weighing on the pound
• UK Dec manufacturing PMI downwardly revised to 47.0 from 47.3 flash estimate
• 1.2475 (Nov/Dec low) is now a GBP/USD resistance level, with 1.2500 beyond
GBPUSD
(Robert Howard is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters