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Jun 18 - 03:55 PM

GBP/USD - Slide Picks Up Steam After Weak UK Retail Sales, Hawkish Bullard

By Paul Spirgel  —  Jun 18 - 01:36 PM
  • GBP/USD off session lows, ends NY -0.72% at 1.3826; NY range 1.3904-1.3795

  • Pair slid initially on weak UK ret sales, fell harder after hawkish Bullard

  • Hawkish Fed take by Bullard leaves mark on sterling outlook nL2N2O01B0

  • Weak UK retail sales dents hawkish BoE narrative for June 24 MPC meeting

  • Next key GBP/USD supports 1.3670 Mar/Apr lows, 1.3463 50% of 1.2676-1.4250

  • EUR/GBP +0.46% at 0.8591, Fri range 0.86-0.8545; EUR led lwr post-Fed, RS miss drives GBP selling

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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