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Feb 10 - 11:55 AM

GBP/USD - Scales New 34-Month Peak As U.S. Stocks Hit Record

By Rob Howard  —  Feb 10 - 09:51 AM
  • Cable climbs to 1.3865 as U.S. equity indices hit record highs nL4N2KG3NX

  • 1.3865 is the highest level since April 2018 (1.4377 was high that month)

  • Risk-sensitive GBP often gains when equity prices rise (and vice-versa)

  • USD hurt by sub-f/c U.S. Jan CPI, and downward revision to U.S. Dec CPI

  • See: nL1N2KF34U. 1.3827 was early NY low for GBP/USD, pre-CPI nL1N2KG1B3

  • BoE's Bailey speaks at 1700GMT. Fed's Powell speaks at 1900GMT nL1N2KG0JM

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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