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Sep 12 - 06:55 AM

GBP/USD - Drops Towards 13-Week Low On UK Employment Fall

By Rob Howard  —  Sep 12 - 05:45 AM
  • GBP/USD hits 1.2463 after extending south from 1.2528 (early London high)

  • 1.2528 was high immediately after data showed above f/c 8.5% UK wage growth

  • Focus then switched to larger than expected 207k decline in UK employment

  • BoE rate decision next week: markets see 80% chance of 15th consecutive hike

  • Incoming MPC member Breeden agrees on 'upside' inflation risk nL8N39I5UA

  • 1.2445 (13-week low last week) and 1.2430 (200DMA) are cable support levels

Source:
Refinitiv IFR Research/Market Commentary

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