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Nov 12 - 11:55 AM

GBP/USD - Drops To New 13-Week Low As King Dollar Reigns

By Rob Howard  —  Nov 12 - 09:45 AM
  • Cable hits 1.2784, lowest level since Aug 13, after slide from 1.2830

  • 1.2830 was rally high from 1.2793 Ldn am low (1.2835 was last week's low)

  • King dollar reigns, courtesy of 'Trump trades' (Trump inauguration Jan 20)

  • GBP/USD support points include 1.2763 (Aug 13 low), 1.2750 and 1.2700

  • UK Q3 GDP data due Friday (morning after Mansion House speeches); 0.2% f/c

Source:
Refinitiv IFR Research/Market Commentary

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