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Jun 04 - 07:55 AM

GBP/USD - Drops To Intra-Day Low On Carry Trade Unwinds

By Rob Howard  —  Jun 04 - 05:55 AM
  • Cable falls to 1.2760 as carry trade unwinds impact foreign exchange rates

  • GBP/JPY down to two-week low circa 198 (vs 200.40 Asian session high)

  • Yen up to highest vs dollar since mid-May; USD/JPY down to threaten 155

  • GBP/USD scaled 12-week peak of 1.2818 in Asia (after Monday's soft US data)

  • US April JOLTS report due at 1400 GMT; 8.355M f/c (May NFP data due Friday)

  • First Sunak-Starmer televised UK election debate on ITV1 at 2000GMT-2100GMT

Source:
Refinitiv IFR Research/Market Commentary

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