By Paul Spirgel — Aug 21 - 02:15 PM
GBP$ firm into NY afternoon, +0.62% at 1.3114; Wednesday range 1.3115-11
Pair higher after lower BLS payroll revision, higher still post-Fed minutes
Fed mins from July 30-31 hold little sway after Aug 1 NFP, today's revision
UST yields slip, belly of curve down 8-6bp ahead of Fed's Powell Friday
Sterling hovers by 2024 high, bulls await Powell J-Hole comments
LSEG's IRPR indicates -105bp by December 2024; Sept -50bp odds now near 40%
GBP$ res 1.3115 Wednesday post-minutes high, 1.3147 Jul 10 2023 wkly high
Support 1.3053 rising 10-HMA, 1.3011 Wednesday low, 1.2961 100-HMA
GBP$ consecutive run of higher highs, higher lows adds to bullish tenor
Source:
Refinitiv IFR Research/Market Commentary