Free Trial

* Correct* (changed Wednesday to Thursday)....>

CABLE
CABLE: * Correct* (changed Wednesday to Thursday)
Broader USD strength & discontent from the would-be Tory party rebels re: the
gov't amendment to the EU withdrawal bill weighed on GBPUSD on Thursday, with
the cross last dealing at ~$1.3260, this came after a strong retail sales print
(albeit on the back of soft prior) pushed the cross to highs in early London
dealing on Thursday.
- The pair now deals below 1.3267 (the 76.4% Fibo of the $1.3204-$1.3473 move)
as the USD bid continues in Asia-Pacific hours, with $1.3244/54 (the 1%
volatility band & Jun 01 low) providing the next level of support, followed by
$1.3220 (the 1.618 swing of the $1.3307-$1.3447 move).
- GBP traders now focus on next Thursday's BoE decision. No change is expected,
but the BoE's rhetoric will be scrutinised. As a reminder this is a non QIR
meeting.
- Nearby notable FX option expiries of note for today's 10AM NY cut: $1.3250
(Gbp967mn), $1.3395-1.3400 (Gbp1.46bln).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.