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
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Source:
Refinitiv IFR Research/Market Commentary