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Mar 16 - 06:12 AM

GBP/USD - Holds Above 22-Week Low After 100Bp Fed Rate Cut

By Rob Howard  —  Mar 16 - 04:20 AM
  • Cable rose to 1.2429 in Asia after Fed rate cut, QE and USD liquidity news

  • See: nL1N2B80FD. 1.2283 = ensuing low, 33 pips above pre-Fed rate cut low

  • Fed's failure to fix credit plumbing leaves markets scrambling for dollars

  • See: nL4N2B91BV. 1.2250 was early Asia low (pre-Fed cut) and Friday's low

  • 1.2250 = low since Oct 10, 7.2% below last Monday's five-week high of 1.32

  • Heavy stop-loss selling of GBP during the slump to 1.2250 nL1N2B608P

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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