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Jun 18 - 06:55 AM

GBP/USD - Falls To Three-Day Low Ahead Of BoE MPA

By Rob Howard  —  Jun 18 - 05:35 AM
  • Cable drops to 1.2508 ahead of the 1100GMT BoE monetary policy announcement

  • 1.2508 is the lowest level since Monday (1.2455 was two-week low that day)

  • BoE is expected to enlarge QE programme by at least GBP 100bln nL1N2DS0DN

  • Any steer on negative BoE rate risk might also impact GBP, besides QE amount

  • Sterling could benefit if the perceived probability of BoE NIRP recedes

  • 1.2527 (Asia low) is now a GBP/USD resistance level, pre-1.2568 nL1N2DV086

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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