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Sep 16 - 03:55 PM

GBP/USD - Slips To New 37-Year Low After Retail Sales Disappoint

By Paul Spirgel  —  Sep 16 - 01:35 PM
  • GBP$ off 2022 low into NY close -0.6% at 1.1401; NY range 1.1447-1.1377

  • Pair soft after UK retail sales slide nL8N30N0UN, US yields rise

  • Sterling's 37-year lows cast spotlight on more 1985 targets nL1N30N1BH

  • Fed odds for +100 Sep 21 dip to 17%; BoE odd of +75 at 49% IRPR

  • GBP$ supt 1.1351 Fri low, 1.1295 lower 30-wk Bolli, 1.1271 lwr 30-day Bolli

  • Res 1.1443 30-HMA, 1.1478 Friday high, 1.1525 10-DMA

  • EUR/GBP hits new 19-month high 0.8776, +0.69% at 0.8776 into NY close

  • UK inflation recession risks weigh broadly on GBP vs higher-yielding CCYs

Source:
Refinitiv IFR Research/Market Commentary

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