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Jun 16 - 11:55 AM

GBP/USD - Pivots 1.2250 After Forceful Rise On BoE Day

By Rob Howard  —  Jun 16 - 10:15 AM
  • Cable hit 3-day high of 1.2282 at 1333 GMT after rising further from 1.2042

  • 1.2042 was intra-day low at 1116 GMT, following the BoE's 25 bps rate hike

  • Rise to 1.2282 fuelled by rocketing gilt yields/hawkish BoE expectations

  • See: nL8N2Y34HP. 2.25% BoE rate currently priced for September BOEWATCH

  • BoE ready to act "forcefully" on rates if needed nL1N2Y30QF

  • UK May CPI data due next week (June 22). CPI 40-year high of 9% YY in April

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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