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Jul 01 - 04:55 AM

GBP/USD - Weighed Down By Risk Aversion As H2 Gets Underway

By Rob Howard  —  Jul 01 - 02:45 AM
  • Cable slid to 1.2114 in Asia, as risk aversion lifted safe-haven currencies

  • See: nL1N2YI08U. 1.2114 is lowest level since Thursday's high of 1.2189

  • 1.2093 was Thursday's two-week low (before month-end position adjustments)

  • Pound suffered biggest six-month drop vs USD since 2016 in H1 nL1N2YH0ZW

  • USD share of FX reserves remained at 58.8% in Q1 nL8N2YH69WnL1N2YH1D7

  • UK govt proposes VAT cut to ease pain of rising prices-The TimesnL1N2YH3DW

Source:
Refinitiv IFR Research/Market Commentary

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