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Oct 17 - 08:55 AM

GBP/USD - Scales Intra-Day Peak As Hunt Speaks, Then Retreats

By Rob Howard  —  Oct 17 - 07:00 AM
  • Cable jumped to 1.1332 as new UK finance minister delivered fiscal statement

  • Hunt says he will raise 32 billion pounds more in tax, limit power subsidies

  • See: nL8N31I2PHnL1N31I0ABnL8N31I2J2. 1.1332 = intra-day high

  • 1.1256 = subsequent low. 1.1228-1.1305 was European am range (pre-Hunt)

  • See: nL1N31I0M3. Hunt to address MPs in House of Commons at 1430 GMT

  • 1.1153 was Friday's low (after nine minute Truss briefing) nL1N31I0F0

Source:
Refinitiv IFR Research/Market Commentary

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