EUR/GBP rallies while GBP/USD, AUD/USD drop as UK borrowing costs hit 2008 highs
EUR/GBP rallies while GBP/USD, AUD/USD drop as UK borrowing costs rise to levels last seen in 2008 with the UK Treasury having to intervene.
GBP/USD drops to 2-year low
GBP/USD slid to an over 2-year low as UK borrowing costs rise to their highest level since 2008 with the Treasury forced to intervene.
The cross is about to hit the 24 October 2023 high at $1.2289 as well as the 29 September 2023 high at $1.2272. This area may provide short-term support. If not, the $1.2200 region would be next in line. Minor resistance now sits at the 2 January low at $1.2353.
AUD/USD nears 2 1/4 year low
AUD/USD nears last week's 2 1/4 year $0.6180 low, below which beckons the October 2022 low at $0.6171. This scenario will remain in play while the September-to-January downtrend line at $0.6290 caps. Above it sit Monday's $0.6302 high and the 11 December low at $0.6337.
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