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Jul 29 - 02:55 AM

GBP/USD - Helped To Five-Week High By Rise In Risk Appetite

By Rob Howard  —  Jul 29 - 02:29 AM
  • Cable rises to 1.3940 as risk-sensitive GBP benefits from Asian equity gains

  • HK, China stocks rebound as Beijing calms panic nP8N2OK006nL1N2P507O

  • 1.3940 is the highest level since June 24 (1.3985 was the high that day)

  • GBP/USD gains have also been aided by dovish Powell briefing nL1N2P30V1

  • Fed Chair said U.S. rate increases were "a ways away" nL1N2P501V

  • 1.3900 is now a GBP/USD support point (1.3895 was pre-Fed high Wednesday)

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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