💷🔻 Sterling Makes New Lows, Tests 1.1500
- Rosbel Durán
- Sep 1, 2022
- 1 min read
August saw cable break through fresh new YTD lows, breaching through 1.20 and almost five more 'BFs'
Sterling/dollar and rates correlation seems broken as U.K. front-end gilts led rates during August, 2-yr yield jumped by more than 100bps over this period
Despite the move, GBP was the worst performer G10 currency in z-score terms during the month
Also, the OIS market leaves the BoE as the most aggressive central bank in our tracking list. Markets see the BoE delivering 210bps of additional tightening by February
GBP/USD is now testing 1.1500, nears COVID selloff lows
Comments