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Aug 01 - 05:00 AM
GBP/USD - Close To 31-Month Low After Fed's Hawkish Cut
First appeared on eFXplus on Aug 01 - 03:00 AM
  • Cable hit 1.2101 in Asia as USD continued to benefit from Fed's hawkish cut
  • See: nTLAVIEF78. 1.2101 is the lowest level since Jan 2017
  • Subsequent recovery rally topped out circa 1.2135 (Wednesday's low)
  • 1.2250 was Wednesday's high, ahead of the Fed
  • GBP/USD may break 1.2100 if UK mfg PMI comes in below 47.7 f/c at 0830GMT
  • 1.2100 is an option barrier level. BoE to impact GBP at 1100GMT nL8N24W7T7

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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