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Oct 03 - 05:55 AM

GBP/USD - Holds Below 1.21 After Drop To Seven-Month Low

By Rob Howard  —  Oct 03 - 03:40 AM
  • Cable hit 1.2061 in Asia after extending south from 1.2220 (Monday's high)

  • 1.2061 is lowest level since March 16 (1.2050 is an option barrier level)

  • Dollar supported by scope for another Fed rate rise in November or December

  • On Monday, Mester said she suspects Fed may need to hike before year-end

  • 1.2100 (ex-support point) is now a resistance level (1.2111 was Sept 27 low)

  • US Aug JOLTS data due at 1400 GMT; 8.8M f/c. US Sept jobs report due Friday

Source:
Refinitiv IFR Research/Market Commentary

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