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Free AccessStronger than expected US NFP added further...>
CABLE: Stronger than expected US NFP added further weight on to an already
retreating British pound Friday, pressed cable to an eventual low of $1.2481
following the break of the Jun18 low of $1.2506. The USD pared some of its data
react gains into the close with cable edging to $1.2531, finding support above
$1.2520. A fairly subdued Asian session saw rate consolidate within a tight
$1.2521-34 range (charts show an early low of $1.2507 in opening thin trade).
Resistance noted into $1.2540/50 ahead of the NY high of $1.2562. Support
remains into $1.2520 ahead of $1.2500 and $1.2480. The 2019 low of $1.2441 has
moved into focus.
- Brexit warnings from the UK CBI (sees no-deal weighing on business development
by 1.3% in 2019) as well as from a former Brexit department chief suggesting we
should all worry about no-deal.
- UK Ambassador to US leaked comments concerning US Trump, prompts Trump tweets.
To read the full story
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Please enter your details 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.