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TDUX
May 21 - 01:55 PM

GBP/USD - Weighed Down By Higher Oil Prices On Iran Tensions

By Robert Howard  —  May 21 - 10:21 AM

• Cable falls to 1.3394 as safe-haven dollar strengthens on higher oil prices

• Oil prices jump as Reuters report signals complication to US-Iran peace talks

• US is net energy exporter. 1.3394 is intra-day low (1.3376 was Wednesday low)

• 1.3454 was London morning high, before big UK services PMI miss (47.9)

• BoE MPC dove Taylor sees less risk of inflation persistence than in 2022

• UK April retail sales data due Friday at 0600 GMT; minus 0.6% MM expected

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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