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Mar 18 - 08:36 AM

GBP/USD - Trades Below 1.20 For The First Time Since Sept

By Rob Howard  —  Mar 18 - 05:35 AM
  • Cable hits 1.1985, low since Sept 3, after extending south from 1.2130

  • Drop to 1.1985 fuelled by risk aversion: USD is a safer-haven than GBP

  • European shares fall again as virus fears outweigh stimulus nL4N2BB281

  • 1.2130 was Asia high, after some profit-taking on short GBP positions

  • Sept 3 low was 1.1959 -- low since GBP flash crashed on 7 Oct 2016

  • Virus may take GBP to places even Brexit couldn't reach nL1N2BA09D

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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