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Mar 22 - 03:55 PM

GBP/USD - Slides As Traders Shift Cut Expectations To June From August

By Paul Spirgel  —  Mar 22 - 01:50 PM
  • GBP$ -0.53% at 1.2593 into NorAm close; NorAm range 1.2623-1.2578

  • Dovish BoE view in 2024 gains momentum after UK CPI slide, dovish rate vote

  • Gilt yields slide faster than USTs as BoE cut view moves to June from Aug

  • LSEG's IRPR page shows June 25bp 1st cut odds now 77%; Dec 2024 -77bp

  • Sterling could be in trouble as BoE view softens nL2N3G01DY

  • GBP$ res 1.2640 30-HMA, 1.2676 Friday high, 30/55-DMA 1.2689

  • Supt 1.2576 Friday low, 1.2531 lower 30-d Bolli, 1.2518 2024 low Feb 5

Source:
Refinitiv IFR Research/Market Commentary

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