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May 12 - 03:55 AM

GBP/USD - Hits New 2-Year Low On Negative UK March GDP Print

By Rob Howard  —  May 12 - 02:20 AM
  • Cable falls to 1.2185 on unexpectedly negative UK March GDP print

  • Minus 0.1% vs zero f/c nAPN0KMJ3W. 1.2185 is lowest level since May 2020

  • 1.2196 was low shortly before the 0600 GMT UK GDP data release

  • 1.24 was Wednesday's high -- before risk aversion boosted safe-haven USD

  • Nasdaq closed down 3.2% Wednesday nL2N2X32ZQ. Bitcoin down nL2N2X4098

  • Brexit concerns are helping weigh on GBP nL2N2X336KnL5N2X32GN

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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