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Mar 07 - 04:55 AM

GBP/USD - Consolidates Gains After Trouble-Free UK Budget

By Rob Howard  —  Mar 07 - 02:50 AM
  • Cable up to 1.2761 on trouble-free UK budget, relatively dovish Powell Weds

  • 1.2761 is highest level since Feb 2 (hot NFP data day). 1.2724 = ensuing low

  • Powell speaks again later (1500 GMT). US Feb NFP due Friday; 200k forecast

  • 1.2772 (Feb 2 high), 1.2800 and 1.2825 are GBP/USD resistance levels

  • UK house prices rise for fifth month in a row, according to Halifax data

  • UK debt chief sees less value in long-dated gilt issuance nL2N3FK381

Source:
Refinitiv IFR Research/Market Commentary

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