By Rob Howard — Aug 01 - 06:10 AM
Cable reaches 1.2257 after rising further from 1.2065 (Friday's two-day low)
1.2257 is highest level since June 28 (1.2291 was the high that day)
USD also weaker vs yen, euro, franc and AUD nL8N2ZD29TnL4N2ZD1PE
Pound underpinned by money market bias for 50 bps BoE rate hike this week
See: nL1N2ZD0GEnL8N2YU4D7. UK July final mfg PMI 52.1 nZRN004TPI
1.2200 is now a GBP/USD support level (1.2198 was Asian session high)
Source:
Refinitiv IFR Research/Market Commentary