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Apr 25 - 07:55 AM

GBP/USD - Plumbs New 19-Month Low After Another UK Data Miss

By Rob Howard  —  Apr 25 - 06:15 AM
  • Cable falls to 1.2717 after CBI mfg orders book balance worse than expected

  • 14 vs 21 Reuters poll forecast nL5N2WN2D1. 1.2717 = new 19-month low

  • CBI data miss follows UK retail sales/service PMI misses Friday nL5N2WK1AJ

  • 1.2729 was early Ldn low, as China stocks slumped on Beijing lockdown fears

  • See: nL2N2WN0ID. GBP is risk-sensitive, while USD is safe-haven

  • Pressure on UK PM Johnson is also weighing on the pound nL5N2WN191

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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