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Aug 02 - 04:55 AM

GBP/USD - Falls From Five-Week High Amid Taiwan Tension

By Rob Howard  —  Aug 02 - 02:40 AM
  • Cable drops to 1.2229 as Pelosi's expected Taiwan trip spurs risk aversion

  • See: nL4N2ZE1BRnL1N2ZE04SnL4N2Z805J. GBP is risk-sensitive

  • 1.2229 is lowest level for GBP/USD since Monday's five-week high of 1.2291

  • 10-year UST yield down to four-month low of 2.52% in Asia nL1N2ZE06N

  • Bids may emerge near 1.2200 (former resistance level) if cable extends south

  • BoE rate decision Thursday; 50 bps hike is consensus forecast nL1N2ZD0UR

Source:
Refinitiv IFR Research/Market Commentary

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