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Apr 23 - 03:55 PM

GBP/USD - Gain On UK PMI Beat Fades Ahead Of 1.39 After US PMI Beat

By Paul Spirgel  —  Apr 23 - 01:42 PM
  • GBP/USD off Lon Fix low, ending NY +0.11% at 1.3857, NorAm range 1.3895-36

  • Early NY rise runs fades ahead of 1.3600, US PMI beats keep pairs balanced

  • GBP firm as UK PMI beat trumps virus worry but Fed clouds view nL1N2MG132

  • Developed mkt recovery balanced, likely to keep majors rangebound

  • Traders eye Apr 28 FOMC for hints at US/glbl recovery; then May 6 MPC EM

  • EUR/GBP ending NY near high, +0.35% at 0.8713, Fri range 0.8717-0.8672

  • GBP soft versus EUR as EZ seen evening playing field on vax rollout

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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