By Robert Howard — Dec 30 - 07:16 AM
• Cable hits 1.2606 after extending north from 1.2562 (London morning low)
• 1.2606 is 6.5 pips shy of Dec 20 high. Obstacles beyond include 1.2665
• 1.2665 was Dec 19 high (before drop to test 1.2475 on BoE's dovish hold)
• GBP/USD also rose on Friday, from 1.2506 to 1.2592 (1.2502 was Dec 26 low)
• Fed rate hold expected on Jan 29 (nine days after Trump's inauguration)
• Markets see approximate 50% chance of BoE rate cut on Feb 6
GBPUSD
(Robert Howard is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters