2/1/2021 10:16:25 AM GMT | By FXStreet Team
The GBP/USD pair regained positive traction on the first day of a new trading week and retested multi-year tops, around the 1.3755-60 region during the early European session. Diminishing odds for a Bank of England (BoE) rate cut was seen as a key factor that benefitted the GBP while the UK Manufacturing PMI was finalized at 54.1 for January and remained supportive, FXStreet’s Haresh Menghani briefs.
Key quotes
“The British pound benefitted from chatters about the further easing of coronavirus restrictions in the UK and diminishing odds for any BoE rate cut in 2021. In fact, UK money markets indicated that investors have pushed back bets for 10bps interest rate cut by the BoE to 2022 vs the previous expectations for such a move in December.”
EUR/GBP extends weakness on breaking three-day-old support line. Short-term falling channel favors bears, 200-bar SMA adds to the upside barriers. EUR/GBP
盘前必读丨中国1月官方制造业PMI为51 3% 道指失守3万点 yicai.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yicai.com Daily Mail and Mail on Sunday newspapers.
2月1日期市早参：焦炭第十五轮提涨全部落地 累积涨幅1000元/吨 _ 东方财富网 eastmoney.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eastmoney.com Daily Mail and Mail on Sunday newspapers.