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Sep 20 - 03:55 AM

GBP/USD - Back Above 1.14 Before Fed Meeting Gets Underway

By Rob Howard  —  Sep 20 - 02:45 AM
  • Cable holds above 1.1400 following U.S. equity gains into Monday's close

  • See: nL1N30Q2QVnL1N30R08G. Pound is risk-sensitive; USD is safe-haven

  • 1.1460 was Asia high vs Monday's 1.1356 low (1.1351 was 37-year low Friday)

  • Two-day Fed meeting gets underway later; 75 bps hike expected nL1N30M23A

  • Net GBP short held by IMM speculators rose to 68,086 in week ended Sept 13

  • See: nL1N30N2XJ. 68,086 contracts = biggest net GBP short since June

Source:
Refinitiv IFR Research/Market Commentary

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