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Feb 20 - 05:00 AM

GBP/USD - Drops To Low Since Feb 10 Pre-UK Retail Sales Data

By Rob Howard  —  Feb 20 - 03:10 AM
  • Cable hits 1.2885 after early Ldn break below 1.2900 (1.2901 was Asia low)

  • 1.2885 is lowest level since Feb 10 -- 1.2873 was 10-week low that day

  • USD continues to benefit from steady, optimistic Fed nL1N2AJ10D

  • EU-UK trade friction fears are weighing on the pound nL8N2AJ2VQ

  • 1.2908 (Wednesday's low) is now a GBP/USD resistance level

  • UK ONS Jan retail sales data due 0930GMT, +0.7% f/c vs -0.6% in Dec

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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