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May 13 - 11:55 AM

GBP/USD - Falls To Fresh Two-Year Low Near 1.2150

By Rob Howard  —  May 13 - 09:35 AM
  • Cable hit 1.2156 at 1326 GMT after breaking below 1.2165 (Thursday's low)

  • 1.2156 is lowest level since May 2020 (1.2075 was the low that month)

  • USD supported by expectation of 50 bps Fed rate hikes in June and July

  • UK recession fears and Brexit concerns are helping weigh on the pound

  • Raft of UK data due next week, including April CPI Wednesday nL2N2X50WR

  • CFTC data at 1930 GMT may show 10th consecutive weekly rise in net GBP short

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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