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Sep 28 - 04:55 PM

GBP/USD - Tumbles Below Summer Support To Lowest Since January As Risks Mount

By Randolph Donney  —  Sep 28 - 02:39 PM

  • GBP/USD collapsed 1.27% and below July-Sept lows amid risk aversion

  • Prices now nearing 2021's 1.3451 low, next key tech supports at 1.3157/66

  • Petrol shortages add to other pandemic and Brexit impediments nL1N2QU1DC

  • But BOE's seen hiking rates in Feb to fight inflation

  • Risk is higher rates won't help end supply shortages, inflation

  • Sterling slammed due to risk-sensitivity amid tumbling equities

  • Slide only slowed by weak US consumer confidence report

  • Specs got slightly net long just before slide, being forced short

For more click on FXBUZ

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Refinitiv IFR Research/Market Commentary


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