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Feb 07 - 07:55 AM

GBP/USD - Recoups Nearly 50% Of Hot NFP-Spurred Fall

By Rob Howard  —  Feb 07 - 05:50 AM
  • Cable eyes 1.2641-45 after extending north from 1.2518 (Monday's low)

  • 1.2641 was Jan 30 low. 1.2645 is 50% retracement of 1.2772-1.2518

  • 1.2772 was Friday's high - before dollar jumped on hot US NFP data

  • Moody's cuts NYCB ratings to junk, warns of more downgrades nL4N3ES02D

  • UK house prices gain momentum in early 2024 - Halifax data nL8N3ES24B

  • BoE's Breeden grows less worried that rates will need to rise again

Source:
Refinitiv IFR Research/Market Commentary

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