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Jun 18 - 03:55 PM

GBP/USD - Slides After Steady BoE On Lingering Growth, Brexit, Rate Unease

By Paul Spirgel  —  Jun 18 - 01:55 PM
  • GBP/USD soft into NY close -1.1% at 1.2415, NorAm range 1.2550-1.2403

  • BoE holds, ups QE by GBP 100bn nL8N2DV2K2 sees lingering econ issues

  • Pair matched Jun 1 low into London fix, rally to 1.2443 faded in NY aft

  • Low global/UK growth view, Brexit fears and talk of neg rates weigh on GBP

  • BoE support turns to pressure as sterling falls through support nL1N2DV15M

  • PM Johnson tells Macron: Brexit talks can't stretch into autumn nS8N2C80CA

  • Andrew Bailey can freeload on Fed and ECB largesse nL8N2DV4MU

  • EUR/GBP firm on outsize GBP weakness, ends NY 0.9016 +0.72%; May 29's 0.9054 high respected, for now

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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