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Oct 30 - 06:55 AM

GBP/USD - Drops Through 1.21 As Two-Year Gilt Yield Sags

By Rob Howard  —  Oct 30 - 04:35 AM
  • Cable slides to 1.2090 as two-year gilt yield falls to four-month low

  • 1.2090 is lowest level since Thursday (1.2070 was three-week low that day)

  • GBP/USD held above 1.2100 on Friday, with 1.2163 marking the intra-day high

  • 1.2039 (Oct 4, 29-week low) and 1.2000 are key support points below 1.2070

  • IMM speculators raise bearish GBP bets for ninth week in a row nL1N3C00GY

  • BoE is expected to deliver second consecutive rate hold this week (Thursday)

Source:
Refinitiv IFR Research/Market Commentary

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