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Oct 18 - 04:55 AM

GBP/USD - Retreats From Hawkish Bailey-Spurred High

By Rob Howard  —  Oct 18 - 02:36 AM
  • Cable eases to 1.3721 (intra-day low) as higher UST yields support USD

  • 10-year UST yield circa 1.60%, following Friday's rise to 1.57% nL1N2RB2L4

  • 1.3765 was GBP/USD high in Asia, following hawkish Bailey comments on Sunday

  • Bailey sent a fresh signal that BoE is gearing up to raise interest rates

  • See: nL1N2RD07B. 1.3765 was eight pips shy of Friday's four-week peak

  • Bids may emerge around 1.3700 (ex-resistance level) if cable extends south

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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