Free Trial

GBP/USD Close to Erasing Data-Inspired Losses

GBP
  • GBP volumes stand out vs the rest of G10 following this morning's data release. GBP futures see activity at over 60% above average for this time of day - contrasting with EUR, JPY and AUD at these levels, which are seeing subpar participation.
  • GBP/USD's initial drop on the back of softer-than-expected jobs data has been largely reversed (pair printed a low at 1.2466) alongside broader USD weakness as the greenback catches up with the pullback in US yields off the overnight highs.
  • A further bounce in GBP/USD through overnight highs opens 1.2541/2641 the High May 12 / 11 ahead of the bull trigger at 1.2680.

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.