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Jan 09 - 07:55 AM

GBP/USD - Below 1.23 After Gilt Trip To 14-Month Low

By Robert Howard  —  Jan 09 - 05:49 AM

• Cable met headwind around 1.2300 after rallying off 1.2239 (14-month low)

• 1.2239 was plumbed as gilt yields rose again from the 0800 GMT open

• Gilt sell-off heaps pressure on Reeves. 1.2300 is a former support level

• 1.2299 was last year's low. 1.2321 was Wednesday's low (after CNN report)

• BoE survey says UK firms plan to raise prices, cut employment after tax hike

• Musk discussed ways to oust UK PM Starmer before next election, FT reports

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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