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May 09 - 04:55 AM

GBP/USD - Plumbs Three-Week Low Before US-China Trade Talks

By Robert Howard  —  May 09 - 02:40 AM

• Cable hit three-week low of 1.3213 in Asia after extending south from 1.3345

• 1.3345 was Thursday's Ldn/NY session high, after relatively hawkish BoE cut

• Stronger USD precedes China-U.S. trade talks in Geneva on Saturday

• U.S. weighs plan to lower China tariffs to as low as 50%, New York Post says

• On Thursday, Trump said China tariffs will come down from 145%

• 1.3251 was GBP/USD high in Asia (1.3250 was pre-BoE rate cut low Thursday)

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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