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Jan 10 - 04:55 AM

GBP/USD - Retreats From Three-Week Peak Before Powell Speaks

By Rob Howard  —  Jan 10 - 02:50 AM
  • Cable hits 1.2142 after extending south from 1.2209 (Monday's 3-week high)

  • Drop to 1.2142 precedes slated comments from Fed chair Powell at 1400 GMT

  • Powell to speak at Riksbank-hosted event - as is BoE's Bailey, at 0930 GMT

  • Ascent to 1.2209 was fuelled by Friday's sub-50 U.S. service PMI surprise

  • Fed duo say U.S. CPI data to help resolve 25 vs 50 bps Feb 1 hike question

  • U.S. CPI data due Thursday; 6.5% YY f/c. UK inflation data due next week

Source:
Refinitiv IFR Research/Market Commentary

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