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Sep 08 - 11:55 AM

GBP/USD - Plumbs Intra-Day Low On Hawkish Powell Comments

By Rob Howard  —  Sep 08 - 09:40 AM
  • Cable extends south to 1.1464 on hawkish comments from Fed chair Powell

  • See: nW1N2YE00Y. 1.1464 = intra-day low (1.1407 was 37-year low Wednesday)

  • Hawkish Powell underpins consensus expectation of 75 bps Fed hike on Sept 21

  • 1.1562 was two-day top after new UK PM Truss unveiled energy support package

  • See: nL1N30E2VJ. 1.1609 was Tuesday's high (before Truss replaced Johnson)

  • Queen Elizabeth's family rush to side of ailing monarch nL8N30F2UC

Source:
Refinitiv IFR Research/Market Commentary

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