GBPUSDBritish Pound / US Dollar
1.3354
-1.27%
SUPPORT:1.33031.3202
RESISTANCE:1.34051.3506
Past
What happened
Cable lost 172 pips to 1.3354 — the steepest move of the week — as broad dollar strength stacked on top of unresolved Starmer leadership risk that's still bleeding the gilt curve.
Why
Why it matters
Sterling is being punished on two fronts: a hot US PPI driving USD-bid, and domestic politics keeping a risk premium on every UK asset. The 'twin-deficit' framing is back.
Watch
What to watch
1.3300 round-number support next. BoE speakers and any UK retail sales surprise next week — also a Supreme Court ruling possible today on Trump's reciprocal tariffs that could whipsaw cable.
HEADLINES
- UK borrowing costs hit 28-year-high as City braces for Burnham challengePA Media: Money
- Gilts Slump as Investors Brace for Burnham Challenge to StarmerBloomberg
- U.K. PM Starmer Is in Danger. Why the Timing of His Exit Matters for Markets.Barrons.com
- U.K.’s Starmer Fights for Job as Leadership Crisis Spills Into MarketsThe Wall Street Journal
- Yen Spikes to 10-Week High and Sparks Intervention ChatterBloomberg