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Jun 14 - 05:55 AM

GBP/USD - Softer As Yen Sinks Vs Dollar On Dovish BoJ

By Rob Howard  —  Jun 14 - 03:50 AM
  • Cable falls to 1.2723 as USD/JPY outperforms GBP/JPY on dovish BoJ

  • 1.2723 is lowest level since Tuesday. GBP/JPY up to 201.60, high since 2008

  • Bids may emerge near 1.2700 if GBP/USD extends south (1.2707 = Tuesday low)

  • 1.2806 was Thursday's high, after dollar fell on soft US PPI, claims data

  • BoE seen on hold next week. Economists expect BoE rate cut on August 1

  • UK election July 4; Labour set for huge parliamentary majority nL8N3I90LD

Source:
Refinitiv IFR Research/Market Commentary

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