By Paul Spirgel — Nov 08 - 01:35 PM
GBP$ slides into NorAm close, -0.61% at 1.2906; Friday range 1.2988-1.2885
Front-end UST yields a touch higher after less-dovish Fed Thursday
STIR futures markets still calling for Dec Fed cut, albeit odds pared
BoE less-dovish outlook now pricing higher terminal UK rates into YE 2025
Sterling's wild ride tempers after election, c.bank volatility passes
GBP spec long still high, w/yearend approaching may start to see selling
GBP$ supt 1.2901 Fri low, 1.2835 Nov 6 low, 1.2816 the 200-DMA
Res 1.2933 the 55-HMA, 1.2988 Friday high, 1.3009 post-election high Nov 7
Source:
Refinitiv IFR Research/Market Commentary