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Sep 30 - 07:55 AM

GBP/USD - Up Half-A-Cent After Threatening Nine-Month Low

By Rob Howard  —  Sep 30 - 06:23 AM
  • 1.3469 is high water-mark for cable since its European am drop to 1.3417

  • Rise to 1.3469 aided by some profit-taking on short GBP positions

  • 1.3417 was five pips shy of Wednesday's nine-month low nL1N2QW0Q4

  • Tuesday's high was 1.3717 -- before UK stagflation fears hurt the pound

  • UK economy bounced back by more than thought in Q2 before slowdown

  • See: nL8N2QW1AI. Offers expected pre-1.35 if GBP/USD extends north

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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