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Oct 06 - 05:55 PM

GBP/USD - Slammed Amid Persistent Inflation Fears, Longs Lightened Pre-NFP

By Paul Spirgel  —  Oct 06 - 01:40 PM
  • GBP$ -1.35% to 1.1165 into NY close, Thurs range 1.1379-1.1114

  • UK DMP survey shines light on persistent UK inflation, UK recession outlook

  • GBP$ hit by dour BoE survey as positions trimmed pre-payrolls nL1N3171A1

  • GBP longs unwind positions on U.S. yield rise, pre-Friday's payrolls report

  • Supt at Thurs low 1.1114, 10DMA 1.1074, 1.0910's 50% of 1.0327-1.1493 rise

  • Sub-1.0910 bears gain momentum for run toward lwr 30-d Bolli supt at 1.0819

  • EUR/GBP +0.58% to 0.8782; GBP bulls shrug off higher UK rates eye inflation-recession risks

Source:
Refinitiv IFR Research/Market Commentary

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