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Apr 11 - 04:55 AM

GBP/USD - Weighed Down By Fed Expectations Shift On Hot CPI

By Rob Howard  —  Apr 11 - 02:45 AM
  • Cable fell by nearly two cents on hotter than expected US CPI data Wednesday

  • CPI data spurred hawkish shift in Fed expectations, and raised UST yields

  • 1.2521 was nine-week low for GBP/USD on Wednesday (1.2518 = 2024 low, Feb 5)

  • 1.2500 is a support point below the 2024 low (1.2501 was December's low)

  • MPC's Greene says BoE interest rate cuts should be "a way off" nL2N3GK080

  • Haskel is also opposed to BoE rate cuts anytime soon. Mann is third hawk

Source:
Refinitiv IFR Research/Market Commentary

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