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Jun 30 - 11:55 AM

GBP/USD - Eyes Intra-Day High After Rally From Two-Week Low

By Rob Howard  —  Jun 30 - 09:35 AM
  • Cable eyes 1.2165 (London morning high) after extending north from 1.2093

  • 1.2093 was two-week low at 1133 GMT, courtesy of risk aversion nL1N2YH0W7

  • Two-week low was plumbed before U.S. economic data came in below forecast

  • Core PCE +4.7% YY vs 4.8% f/c; Spending +0.2% vs 0.4% f/c nL1N2YG25D

  • 1.2165 approximates to last week's low. 1.22 is a resistance level beyond

  • UK C/A deficit hits record, ONS urges caution over data nL8N2YH1VC

Source:
Refinitiv IFR Research/Market Commentary

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