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Jun 10 - 03:55 PM

GBP/USD - Steady Pre-UK Jobs Data Tuesday; US Price, Fed Rate Decision Wednesday

By Paul Spirgel  —  Jun 10 - 01:40 PM
  • GBP$ up a touch in NY afternoon, +0.03% at 1.2727; NY range 1.2737-1.2696

  • Pair shrugs off EU political kerfuffle; ECB policy rate uncertainty

  • Tues UK employment data; Wed's US CPI and Fed rate decision/presser in focus

  • Sterling vulnerable after US payrolls, 1.28 remains upside obstacle

  • UK-U.S. policy paths, as indicated on LSEG's IRPR pages largely symmetrical

  • Fri's upbeat payroll data diminished dovish Fed expectations; lifted USD

  • GBP$ res 1.2744 Monday high, 1.2754 the 10-DMA, 1.2825 Friday high

  • Support 1.2689 Monday Europe low, 1.2660 30-DMa, 1.2596 50% of 1.2894 1.2299

Source:
Refinitiv IFR Research/Market Commentary

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