• GBP$ held a slight loss in NY afternoon, -0.1% at 1.3515; NorAm range 1.3514-1.3464

• Pair bounced off early dip to 100-DMA (1.3465); focus shifts from Mideast to Fed, BoE

• UK political, geopolitical and fiscal concerns keep downward pressure on GBP$

• UK long-end gilt yields back near trend highs ramps up fiscal angst ahead of BoE meeting

• BoE expected to hold on Thursday, persistent inflation has futures price 2+ hikes in 2026

• GBP$ res 1.3539 Tuesday high, 1.3544 daily cloud top, 1.3599 trend high Apr 17

• Supt 1.3500 psychological supt, 1.3465 the 100-DMA, 1.3416 the 200-DMA

Sterling Chart:


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