Free Trial
US TSYS/SUPPLY

WI 5Y

OPTIONS

Euribor Calls Prevalent

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
CABLE
MNI (London)
CABLE: Wednesday's sterling recovery proved to be short lived as Fed Powell
knocked risk outlook, along with adding his voice to negative rate aversion.
Cable had managed to edge to $1.2340, helped in part as market reacted to the
release of better than forecast UK Q1 GDP data, albeit weak, but warnings on
growth for Q2 provided the initial counter, as rate was pressed to a low of
$1.2210, closing the day around $1.2235. Rate managed to edge on to $1.2239 in
early Europe only to turn lower, eventually breaking below $1.2200 to $1.2187
into Europe. This move below $1.2200 seen exposing Apr7 low of $1.2166 ($1.2176
38.2% $1.1412-1.2648). Expect further support to emerge into $1.2150, a break
here to open a move toward the Mar27 low of $1.2132. Initial resistance now seen
into $1.2200, a break to open a move toward $1.2240/50. 
- A light data calendar in the UK Thursday. Domestic focus on BOE Bailey at
1030GMT. Bailey was interviewed by ITV Robert Preston Wednesday and was seen
signalling the Bank likely to increase purchases of government debt, though no
amount mentioned.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.