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May 05 - 04:55 AM

GBP/USD - Pares Powell-Spurred Gains Pre-BoE Event Risk

By Rob Howard  —  May 05 - 02:35 AM
  • 1.2542 is low water-mark for cable since its Powell-spurred jump to 1.2637

  • Fed chief poured cold water on the idea of 75 bps Fed hikes nL2N2WW1W8

  • 1.2453 was GBP/USD low shortly before Powell addressed 75 bp hike question

  • BoE event risk at 1100 GMT; 25 bps rate hike to 1% expected nL5N2WW63C

  • GBP could leap on 50 bps hike surprise/weaken on "dovish hike" nL2N2WW0DR

  • 1.2637 = highest level for GBP/USD since Apr 26 (1.2772 was high that day)

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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