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May 08 - 06:55 AM

GBP/USD - Thin Conditions Clouding Direction And Limits Gains

By Peter Stoneham  —  May 08 - 05:40 AM
  • Sterling at a marginally new high, 1.2656, adding to last week's gains

  • Rally falls just short of the May 2022 1.2666 high: 1-month EUR/GBP high

  • Market looking ahead to Thursday's BoE rate decision

  • A 25-basis point hike to 4.5% expected after data showed Mar. CPI at 10.1%

  • UK's lofty inflation rate compares with just 5.0% in the U.S.

  • U.S. rates may have peaked following last week's 25-basis point hike

  • Thin conditions and a cautious market limiting direction Monday

  • GBP/USD could climb towards 1.3000 in the coming months but risks remain

    For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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