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Feb 04 - 03:48 PM

GBP/USD - Back From The Brink After UK PMI Beat, China Virus Fears Ebb

By Paul Spirgel  —  Feb 04 - 01:20 PM
  • GBP/USD firm into NY close +0.26% at 1.3033; NY range 1.3046-09 nL1N2A40JU

  • Pair lifted off 6-wk low 1.2942 on UK Cons PMI beat; risk rallies broadly

  • Sterling bulls get a reprieve after UK PMI beat nL1N2A40GS

  • China stimulus assuages global growth fears in wake of coronavirus, for now

  • GBP/USD supt 1.2900 Dec 25 low, resistance 1.3226 upper 30-d Bolli

  • EUR/GBP falls 0.44% to 0.8468, Tues range 0.8535-0.8466; tri-arb via JPY aids GBP lift

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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