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Jul 15 - 06:12 AM
GBP/USD - Close To One-Week High On Dovish Fed Expectations
First appeared on eFXplus on Jul 15 - 03:15 AM
  • Cable is eliciting support from expected Fed rate cuts on July 31 and beyond
  • 1.2581 was Asia peak, highest level since July 5. 1.2580 was pre-weekend top
  • Mooted offers near 1.26 may cap the pair if it extends north
  • GBP/USD broke below 1.26 on July 2 after dovish Carney steer nL8N2434DL
  • 1.2587 was July 5 high. 1.2592 was July 4 high. 1.2600 was July 3 high
  • Cable plumbed 6-month low of 1.2439 last week--before dovish Powell hurt USD

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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