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Jun 16 - 03:55 PM

GBP/USD - Soars After BoE Hike As Traders Brace For Higher Inflation

By Paul Spirgel  —  Jun 16 - 01:45 PM
  • GBP$ firm into the NorAm close +1.6% at 1.2370; Thurs range 1.2405-1.2042

  • Pair soars off initial dip post-BoE 25bp hike; traders focus on UK inflation

  • GBP bulls ignore timid BoE hike, eye rising UK inflation nL1N2Y3192

  • Vote was 6-3 for 25bp, 3 sought +50bp; rising inflation may prod +50 in Aug

  • Close above 1.2267, 50% of 1.26-1.1934 June dip shifts control to bulls

  • Bulls now target 30-DMA at 1.2423, then 21-DMA at 1.2469

  • Supt at Daily Kijun line by 1.23, 10-HMA at 1.2238, daily pivot at 1.2124

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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