• GBP$ soft in NY afternoon trade, -0.40% at 1.3593; NorAm range 1.3648-1.3584

• Support by recent low area near 1.3620 gives way, bears test lows sub-1.36

• US PCE HL data a touch above f/c lift belly of UST curve yields and USD

• Next key event is Friday's Fed Chair Warsh address at KC Fed Jackson Hole Symposium

• Near-term Fed-BoE policy expectations inline, both seen hiking 25bp by Dec meetings

• GBP$ supt 1.3585/84 Wed low/10-DMA, 1.3523 rising 21-DMA, 1.3475 daily low Aug 13

• Res 1.3648 Wednesday high, 1.3675 daily high Aug 21, 1.3712 daily high Feb 11

GBP$ Chart:


(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)