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May 15 - 03:55 PM

GBP/USD - Rises Into Daily Cloud After Soft US Data Lifts Fed Cut Odds

By Paul Spirgel  —  May 15 - 01:45 PM
  • GBP$ near session highs into NY cls, +0.65% at 1.2672; NY range 1.2680-03

  • Soft U.S. CPI, RS lifts Fed rate cut odds; IRPR shows Sept cut priced in

  • Sterling boosted after soft US CPI data lifts dovish Fed expectations

  • UK CPI May 22 in focus, a further dip in inflation may stall GBP gains

  • Pair rises into daily cloud (1.2706-1.2661), eyes upper 30-d Bolli 1.685

  • Abv 1.2685 bulls target daily cloud top at 1.2706 and 1.2709 Apr 9/10 highs

  • Supt at daily cloud base 1.2661, 1.2633 100-DMA, 1.2588 55-HMA

Source:
Refinitiv IFR Research/Market Commentary

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