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Jul 16 - 05:00 AM
GBP/USD - Drops Through 1.25 Before UK Earnings/jobs Data
First appeared on eFXplus on Jul 16 - 03:05 AM
  • Cable hits 1.2493 after dropping through 1.2500 since the European open
  • 1.2493 is GBP/USD low since greenback fell on Powell's dovish steer July 10
  • No-deal Brexit fear hurts GBP. Bbg-New Brexit talks take turn for the worse
  • PM candidates set high bar for Brexit talks: no Irish backstop nL8N24G5E5
  • UK earnings/jobs data due 0830GMT; earnings f/c 3.1%, employment f/c +45k
  • Data misses could further depress cable towards 1.2439 (recent 6-month low)

GBPUSD: Click here

Source:
Refinitiv IFR Research/Market Commentary

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