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Aug 20 - 04:55 AM

GBP/USD - Tests One-Month Low After UK Retail Sales Miss

By Rob Howard  —  Aug 20 - 02:41 AM
  • Cable tests 1.3619 after UK retail sales unexpectedly fall sharply in July

  • Down 2.5% MM vs +0.4% f/c nL8N2PR0ZO. 1.3619 was one-month low in Asia

  • Risk aversion has fuelled this week's 2.5 cent drop to 1.3619

  • USD is a safer-haven than GBP. Asian equities fell again Friday nL1N2PR0AD

  • 1.3600 and 1.3573 (July's 5-month low) are GBP/USD support points sub-1.3619

  • Morrisons agrees to CD&R's GBP 7bln takeover offer nL8N2PQ5DXnL9N2DZ01Y

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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