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Jun 23 - 03:55 AM

GBP/USD - Awaits UK Flash PMIs As The R Word Dominates

By Rob Howard  —  Jun 23 - 02:50 AM
  • 1.2230 is low water-mark for cable since Wednesday's high of 1.2314

  • 1.2314 high followed Powell saying U.S. recession "certainly a possibility"

  • See: nL1N2Y917N. Wednesday's high was 10.5 pips shy of Tuesday's top

  • 1.2163 was Wednesday's low, after UK inflation data nL1N2Y90EVnL8N2Y917G

  • UK PMIs 0830 GMT; service f/c 53.0. Rising debt costs push up UK borrowing

  • See: nL8N2YA0XF. UK PM faces prospect of by-election defeats nL8N2Y72TU

Source:
Refinitiv IFR Research/Market Commentary

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