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Jan 04 - 04:55 AM

GBP/USD - Deflated By Monday's Jump In UST Yields

By Rob Howard  —  Jan 04 - 02:52 AM
  • Cable holds below 1.35 after dropping to 1.3431 Monday as UST yields soared

  • 10-year UST yield soared to six-week high of 1.63% Monday nL1N2TJ1ND

  • 1.3431 = lowest level since Dec 29. 1.3485 = subsequent high water-mark

  • 1.3550 was seven-week high on Friday (Dec 31), after GBP shorts squeezed

  • IMM gross GBP shorts continued to dwarf gross GBP longs in week ended Dec 28

  • 73,812 contracts vs 23,093 nL1N2TJ1NO. Data for week to Jan 4 due Friday

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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