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Jun 06 - 11:55 AM

GBP/USD - Pivots 1.2550 Ahead Of Johnson Confidence Vote

By Rob Howard  —  Jun 06 - 09:35 AM
  • Cable hugs 1.2550 before 359 Tory MPs cast confidence votes on UK PM Johnson

  • See: nL8N2XT0K5. There is a 1.2550 option expiry today nL1N2XT0VG

  • 1.2577 was Ldn am high vs 1.2477 Asia low (1.2486-1.2589 was Friday's range)

  • Rise to 1.2577 aided by higher gilt yields/hawkish shift in BoE expectations

  • Johnson confidence vote result expected soon after 1900 GMT nL8N2XT154

  • GBP could take a hit if Johnson loses the vote nL1N2XT0HOnL8N2XT1A4

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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