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Aug 01 - 04:55 AM

GBP/USD - Climbs To 1.22 At Start Of Another BoE Hike Week

By Rob Howard  —  Aug 01 - 03:00 AM
  • Cable hits 1.2200 after extending north from 1.2065 (Friday's two-day low)

  • Friday's low was plumbed on above forecast U.S. ECI, PCE data nL1N2ZA144

  • GBP/USD then rallied through the month-end London fix (as did GBP/EUR)

  • 1.2245 was Friday's early London one-month high (before drop to 1.2065)

  • BoE rate verdict Thursday; 88% chance of 50 bps hike0#BOEWATCHnL8N2ZD1D6

  • PM candidate Sunak vows 20% income tax cut by 2029 nL8N2ZC0D3nS8N2WC06C

Source:
Refinitiv IFR Research/Market Commentary

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