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Jun 24 - 11:55 AM

GBP/USD - Rises Towards 1.27 As Britvic News Refreshes

By Rob Howard  —  Jun 24 - 09:35 AM
  • Cable rises to 1.2681 (high since Thursday) as M&A news lends support to GBP

  • PepsiCo to waive clause in bottling deal as Carlsberg eyes Britvic bid

  • This could pave way for Danish brewer's GBP 3.1 bln Britvic bid to be raised

  • Offers may emerge pre-1.27 if GBP/USD extends north (1.2633 was Asia low)

  • 1.2695 was low before Thursday's dovish hold from BoE - which hurt GBP

  • Biden-Trump presidential debate this week. UK election next week (July 4)

Source:
Refinitiv IFR Research/Market Commentary

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