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Dec 14 - 06:55 AM

GBP/USD - Rises To 1.24 Ahead Of Fed Event Risk

By Rob Howard  —  Dec 14 - 04:55 AM
  • Cable hits 1.2402 (intra-day high) after extending north from 1.2345

  • 1.2345 was low following softer than expected UK CPI data nL1N3340DE

  • Rise to 1.2402 precedes FOMC event risk (1900 GMT) nL1N33315JnL8N3324XH

  • 1.2443 was Tuesday's six-month high, after softer than expected U.S. CPI

  • Tuesday top approximates to 61.8% Fibo of 1.3749-1.0327 (Jan high-Sept low)

  • BoE rate decision Thursday: 50 bps hike to 3.5% is consensus forecast

Source:
Refinitiv IFR Research/Market Commentary

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