By Paul Spirgel — Aug 01 - 01:35 PM
GBP$ soft in NorAm afternoon, -0.85% at 1.2748; NorAm range 1.2840-1.2746
Pair whipsawed post-BoE 25bp cut down to 1.2752 then 1.2840 and back to lows
USD broadly firm, ex-JPY, despite UST yield dip; BoE cut tipped dovish
Futures mkts ramp up BoE 3rd 2024 cut expectations adds to GBP weakness
BoE caution a quick cure for sterling's wounds nL1N3JO0RE
Support at 1.2751 post-BoE cut low, 1.2706 daily cloud top, 1.2646 200-DMA
Res 1.2816 the 30-DMA, 1.2862 Thursday high, 1.2880 falling 21-DMA
Source:
Refinitiv IFR Research/Market Commentary