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Sep 05 - 04:55 AM

GBP/USD - Holds Sub-1.15 As European Gas Price Soars

By Rob Howard  —  Sep 05 - 03:00 AM
  • Cable falls to 1.1444 as safe-haven USD benefits from Russian gas halt

  • See: nL1N30B07VnL4N30C115. Dutch gas contract soars 30% nL8N30C0OX

  • 1.1444 is lowest level since March 2020 (1.1413 = 35-year low in March 2020)

  • 1.15 (ex-support point) is now a resistance level (1.1497 was Friday's low)

  • Truss expected to be named new UK PM at 1130 GMT nL8N30B0CPnL4N3092PM

  • UK can afford to borrow more, favourite to become FinMin says nL8N30C0R3

Source:
Refinitiv IFR Research/Market Commentary

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