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Nov 02 - 05:55 AM

GBP/USD - Respects 1.22 Resistance Level Pre-BoE Event Risk

By Rob Howard  —  Nov 02 - 04:20 AM
  • Cable met headwind pre-1.22 in Asia after extending north from 1.2100

  • 1.2200 approximates to Tuesday's one-week high. 1.2195 was Asian session top

  • 1.2100 was post-Fed low (1.2096 was Wednesday's low, pre-US ISM mfg miss)

  • BoE is expected to keep rates at 5.25% at 1200 GMT (6-3 hold vote likely)

  • Some strategists think BoE may flag a rejig of its QT process nL8N3C06XS

  • US Trsy refunding plans included less longer end issuance than many feared

Source:
Refinitiv IFR Research/Market Commentary

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