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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.
GBP
- One way traffic in GBP/USD continues headed into NY hours, with GBP/USD printing a new low of 1.2441 - reflecting the persistent strength of the USD as the DXY hits a new higher high for the fifth consecutive session.
- Needless to say the options market is taking note, with front-month risk reversals extending the downtick to print 2.3 points in favour of puts - the lowest level since early March and the initial invasion of Ukraine.
- As flagged earlier this morning, support in Cable is seen further out to 1.2423 2.236 proj of the Mar 23 - Apr13 - 14 price swing. This price action continues to show a market happy to sell further into oversold conditions, with the 14d RSI now at 18 points and a new cycle low.
- GBP is now the second most undervalued currency in G10 on a BEER model basis, with just JPY seen below:
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.
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