• GBP$ off post-data flash low at 1.3586; trades near 1.3650 in NY afternoon

• Payroll upside surprise saw powerful USD bid as Fed cut expectations crater

• Sterling shrugs off US payroll data as fiscal, political stresses ease nL6N3T00MQ

• IRPR Fed cut view moved from -65bp pre-data to -52bp; UST 1-5-yr yields +5-8bp

• Sterling traders pay little mind as UK gilt yields reverse some of Wednesday slide

• UK gilts -4bp in 5-10 yr space while UST yields rise near 5bp over similar period

• GBP$ support at 1.3562 rising 30-DMA, 1.3531 Jun 24 low, 1.3415 dly cloud top

• Res 1.3676 Europe high, 1.3741 upper 30-d Bolli, 1.3787 2025 daily high Jul 1

GBP$ Chart:


(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)