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GBPUSD: Intraday Analysis & Forecast update

Sterling falls away from a three-month high against the dollar reached after Bank of England governor Andrew Bailey said it was premature to consider interest-rate cuts as the dollar has “found a floor” and rebounded, Saxo strategists say in a note. GBP/USD falls 0.4% to 1.2637, well below Wednesday’s high of 1.2734 which marked an impressive 4.8% gain from the start of November, FactSet charts show. Bailey was quoted in Wednesday’s Staffordshire’s Daily Focus saying: “We are not in a place now where we can discuss cutting interest rates,” and last week said it was “far too early” to consider rate cuts. The 10-year gilt yield rises 5 basis points to 4.134%

Daily Analysis | 1D Time Frame|

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