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Aug 03 - 04:55 AM

GBP/USD - Near 1.3050 After Biggest Monthly Rise In 11 Years

By Rob Howard  —  Aug 03 - 02:50 AM
  • Cable has traded a 48 pip range thus far Monday, 1.3057-1.3105

  • 1.3057 is the low water-mark since Friday's 21-week peak of 1.3170

  • Month-end buying of the pound aided the ascent to 1.3170

  • GBP/USD rose 5.5% last month, its biggest monthly rise since May 2009

  • IMM specs upped net GBP short to 8-week high in week to July 28 nL1N2F504Z

  • This week's key UK event risk is BoE MPA Thursday nL5N2F19J9nL5N2F1AVE

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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