By Paul Spirgel — Oct 26 - 01:15 PM
GBP$ soft into NY close, -0.1% at 1.2100; Thursday range 1.2133-1.2070
Pair rallied off Europe low 1.2070 after early UST yield rise reversed
UK CBI/retail sales data comes in weak adds to dour UK rate outlook
Markets look beyond upbeat GDP, durables data eye eventual Fed cut in 2024
Sterling regains 1.21 as UST yields dip post-GDP, claims beats nL1N3BW223
Support at Thursday low 1.2070, Oct 4 low 1.2039, Mar 17 wkly low 1.2012
Market focus shifts to Fed meeting Nov 1, BoE Nov 2; no rate changes exp'd
Source:
Refinitiv IFR Research/Market Commentary