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Dec 22 - 02:55 AM

GBP/USD - Dips Towards 1.21 After UK Q3 GDP Downward Revision

By Rob Howard  —  Dec 22 - 02:30 AM
  • Cable eases to 1.2105 after UK Q3 GDP downwardly revised to minus 0.3%

  • See: nL8N33C12M. 1.2105 is lowest level since 1.2132 Asian session top

  • 1.2132 is high water-mark since Wednesday's three-week low of 1.2056

  • Drop to 1.2056 influenced by much higher than expected UK public borrowing

  • UK Q3 C/A deficit GBP 19.4 billion vs GBP 20.8 bln f/c (GBP 35 bln in Q2)

  • Republican senators propose overhaul of Federal Reserve's 12 regional banks

Source:
Refinitiv IFR Research/Market Commentary

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