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May 23 - 03:55 AM

GBP/USD - Rises As Biden Says Weighs Reducing China Tariffs

By Rob Howard  —  May 23 - 02:30 AM
  • Cable rises to 1.2572 after Biden says considering reducing tariffs on China

  • See: nT9N2VL001. 1.2572 is highest level since May 5 (BoE MPA day)

  • Biden steer has lifted equity futures nL5N2XF0PD. GBP is risk-sensitive

  • GBP/USD strength follows biggest weekly rise since Dec 2020 nL2N2XC0V9

  • 1.2578 was London morning high on May 5, before BoE's UK recession warning

  • Bailey takes part in panel discussion on monetary policy/inflation 1415 GMT

Source:
Refinitiv IFR Research/Market Commentary

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