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Jan 10 - 01:55 PM

GBP/USD - Slips After Tepid UK Retail Sales, Traders Eye US CPI Thursday

By Paul Spirgel  —  Jan 10 - 01:25 PM
  • Sterling soft into NorAm close, -0.24% at 1.2151; Tues range 1.2189-11

  • UK consumer spending fails to match inflation in December nL8N33U4LE

  • Sterling off lows after Powell offers no Fed policy clues nL1N33V186

  • Early NorAm slide pre-Powell reversed as no policy hints in statements

  • Focus shifts to Thurs U.S. CPI for hints at near-term Fed policy

  • UK CPI Jan 18 may also have consequences for BoE rates on Feb 2

  • GBP$ res at 1.2209 Monday high, Dec 20 high 1.2219, 1.2245 Dec 19 high

  • Supt at 1.2111 Tues low, 1.2092 Monday low, 10-DMa at 1.2058

  • Northern protocol talks make progress may help stabilize GBP$ nL1N33V1HU

Source:
Refinitiv IFR Research/Market Commentary

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