Cable gives back all the gains and falls to five-week low

Author: Adam Button | Category: News

Dollar strength unwinds cable gains

GBP/USd is at the lows of the day, down 18 pips to 1.2242. Shortly before Powell, the pair rose as a high as 1.2337 so we're nearly a full cent from the best levels.

In the latest drop, the April 21 low of 1.2248 was narrowly breached. If that gives out then it could be a quick trip down to 1.2166.
Dollar strength unwinds cable gains

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