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Nov 11 - 02:55 AM

GBP/USD - Remains Close To 11-Month Low After UK GDP Data

By Rob Howard  —  Nov 11 - 02:34 AM
  • Cable hit 1.3393 in Asia, its lowest level since 23 Dec 2020 nL1N2S206S

  • Drop to 1.3393 fuelled by big rise in UST yields after hot U.S. CPI data

  • 10-year UST yield jumped to 1.59% high Wednesday nL1N2S134PnL1N2S11BJ

  • 1.3431 was rally high from 1.3393 (shortly before UK GDP data at 0700 GMT)

  • UK Sept GDP +0.6% vs +0.4% f/c; Aug GDP revised down by 0.2% nL8N2S22CO

  • 1.3361 (23 Dec 2020 low) and 1.3300 are GBP/USD support points below 1.3393

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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