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Jan 26 - 04:55 AM

GBP/USD - Drops To Three-Day Low As Euro Sags Vs Dollar

By Rob Howard  —  Jan 26 - 03:00 AM
  • Cable falls to 1.2677 (three-day low) as EUR/USD drops towards 1.0800

  • EUR/GBP simultaneously down to threaten 0.8522 (Thursday's five-month low)

  • Euro hurt by traders piling on bets that ECB will cut rates from April

  • Fed and BoE event risks next week (on Wednesday and Thursday respectively)

  • Bids may emerge around 1.2650 (Tuesday's low) if GBP/USD extends south

  • 1.2644 is 55DMA. UK pauses talks on Canada free trade deal over agriculture

Source:
Refinitiv IFR Research/Market Commentary

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