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Jun 12 - 03:55 PM

GBP/USD - Soft On Diminished UK, Global Growth View; Heightened Brexit Fears

By Paul Spirgel  —  Jun 12 - 01:40 PM
  • GBP/USD soft in NY aft -0.84% at 1.2494; Friday range 1.2653-1.2489

  • Sterling sheds gains against dollar as Brexit, economy weigh nL8N2DP2D5

  • Recent longs unwind into Lon fix/close and into NY afternoon

  • Sterling slides as global economic fears expose UK weaknesses nL1N2DP0U9

  • EU-UK trade angst, BoE neg rates back in focus amid global growth rethink

  • Supt 1.2479 Jun 2 low, 1.2407 55-DMA; 50% of 1.32-1.1413 at 1.2307 eyed

  • EUR/GBP +0.19% at 0.8984, Fri range 0.8993-48; EUR slight edge on dour UK Brexit/rate view

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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