Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
May 12 - 08:55 AM

GBP/USD - Holds Sub-1.2550 After Negative UK March GDP Print

By Rob Howard  —  May 12 - 07:40 AM
  • Cable remains sub-1.2550 following unexpectedly negative UK March GDP print

  • 1.2550 is a former support level (May 4 low, after ECB hiked by 25 bps)

  • GBP/USD slid through 1.2550 on Thursday, en route to 1.2497 (one-week low)

  • Drop to 1.2497 was spurred by demand for the safe-haven dollar nL4N3792M8

  • Biden/McCarthy debt ceiling meeting postponed to next week nL1N3783AM

  • Yellen: still some uncertainty about when U.S. Treasury will run out of cash

Source:
Refinitiv IFR Research/Market Commentary

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2023 eFXdata · All Rights Reserved
!