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Oct 31 - 11:55 AM

GBP/USD - Drops To Intra-Day Low As Dollar Climbs Vs Yen

By Rob Howard  —  Oct 31 - 09:45 AM
  • Cable falls to 1.2135 (intra-day low) as USD/JPY rises to threaten 151

  • 1.2201 was GBP/USD one-week high when GBP/JPY outperformed USD/JPY earlier

  • Yen weakness follows BoJ's Halloween tweak, zero Japan FX intervention news

  • US labor costs up 1.1% in Q3 vs 1.0% f/c. US August home prices up 5.6% YY

  • Bids may emerge around 1.2100 if cable extends south (1.2090 was Monday low)

  • Sarah Breeden replaces Jon Cunliffe on BoE MPC as of Wednesday (Nov 1)

Source:
Refinitiv IFR Research/Market Commentary

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