Markets

Pound under pressure once again ( Part 3472)

As the GBP questions continue European desks have busy selling 7 Oct

Reported strong bids/demand at 1.2350 now smashed to post 1.2330 in a rush.

Next line of reported bids around 1.2300 but it's all a bit sketchy after last night's collapse. We might expect 1.2320-25 to bring a little support.

GBP supply getting a boost from EURGBP climbing back over 0.9000 to post 0.9022 as I type

Reuters reporting that 6-month GBPUSD risk reversals to trade off the expected Article 50 trigger in March are showing the greatest bias for GBP weakness since early July.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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