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GBP/USD Edges Lower, Putting GBP Softer Against All Others

GBP
  • Despite performing better across most of the European morning, the US crossover has seen GBP come under pressure, with the currency now the poorest performer in G10.
  • GBPUSD is now testing last Friday's lows (marking first support) at 1.2687 and further weakness through here will prompt the pair to chew further through the June 15th rally and redirect focus to 1.2642.
  • Relatively light volumes noted on the downtick in GBP/USD - and no fresh headlines or newsflow to drive the move here. Just shy of 2k contracts have traded inside the past 15 mins or so, keeping volumes modestly below average for this time of day in futures markets.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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