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Jul 05 - 02:36 PM
GBP/USD - Hit Hard As Extremely Dovish Fed View Dialed Back
First appeared on eFXplus on Jul 05 - 01:20 PM
  • GBP/USD lower still -0.52% at 1.2510; NorAm range 1.2560-1.2481
  • GBP/USD extends south to six-month low under 1.25
  • U.S. NFP beat nLNS5IEF6Q reverses recent uber-Fed dovish sentiment
  • Sentiment for 50bp Fed July cut to 2.5% from 22% pre-NFP FEDWATCH
  • Fed 25bp cut still on tap for Jul 31, widening UST-gilt spreads hit GBP
  • EUR/GBP ends NY -0.03% at 0.8966; EZ rates steady amid higher US/UK view

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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