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Jun 16 - 08:55 AM

GBP/USD - Drops Through 1.21 After BoE's 25 Bps Rate Hike

By Rob Howard  —  Jun 16 - 07:25 AM
  • Cable falls to 1.2042 after BoE raises rates by 25 bps to 1.25% nU8N1A4002

  • 1.2042 = intra-day low (1.2059 was early London low, before SNB rate hike)

  • Economists expected 25 bps BoE hike; I/R futures priced 50% chance of 50 bps

  • 1.2182 was London morning high (pre-BoE hike), following SNB's 50 bps hike

  • 1.2035 (low after 75 bps Fed hike) and 1.2000 are support points sub-1.2042

  • 1.1991 was Wednesday's low (pre-ECB news). 1.1934 was Tuesday's 27-month low

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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