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Apr 26 - 03:55 PM

GBP/USD - Dips To Lowest Since July 2020 Amid Growing Rate, Geo-Political Angst

By Paul Spirgel  —  Apr 26 - 01:40 PM
  • Sterling limps into NorAm close, -1.06% at 1.2604; Tues range 1.2772-1.2594

  • GBP$ puts in new 2022 low amid widening rate diffs, broad USD haven flows

  • Sterling bears in control as global politics add to rates woes nL2N2WO179

  • Big-figure supt by 1.26 holding for now, next supt late Jun 2020 low 1.2519

  • GBP bears likely adding to growing IMM net spec short 1096742NNET

  • Recent IMM data from Apr 19 showed net short highest since Oct 2019

  • EUR/GBP +0.59%at 0.8454, Tues range 0.8457-0.8394; ECB rate hike view trumps BoE

IMM GBP Spec Data Chart: Click here

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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