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Oct 07 - 03:55 PM

GBP/USD's Early NorAm Slide Reversed As Brexit, US Aid Angst Tempered

By Paul Spirgel  —  Oct 07 - 01:40 PM
  • GBP/USD firm into NY EOD, +0.38% at 1.2916; NY range 1.2929-1.2845 GBP=D3

  • Sterling survives test of cloud base support by 1.2867 nL1N2GY0KJ

  • Brexit, US COVID relief spurs 2 tests of 1.2845 low in Europe & US trade

  • Upbeat Brexit tones, talk of increased US aid post elex lifts GBP in NY

  • GBP/USD supt 1.2867 dly cloud base, 1.2845 Oct 7 low; res 1.2929/1.3007 Oct 7/6 high

  • EUR/GBP ends NY near flat at 0.9114, Wed range 0.9162-0.9098; Brexit angst ebbs

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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