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May 08 - 01:55 PM

GBP/USD - Probes New 1-Year High At 1.2668 Amid UK-US Rate Convergence

By Paul Spirgel  —  May 08 - 01:30 PM
  • GBP$ settling near flat into NorAm cls +0.06% at 1.2642; Mon range 1.2668-27

  • Early rise to new 1-yr high 1/2668 dialed back amid light holiday flows

  • BoE rate announcement May 11, expect +25bp; vote/guidance key

  • Sterling celebrates coronation with 1-year high on firming UK rate view

  • Pair bid on expectations of near-term UK-U.S. rate convergence IRPR

  • GBP$ res 1.2668 Mon high, 1.2711 100-WMA, 1.2764 upper 30-week Bolli

  • Support 1.2627 Mon low, 1.2617 55-HMA, 1.2533 10-DMA, 1.2484 21-DMA

Source:
Refinitiv IFR Research/Market Commentary

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