By Paul Spirgel — May 09 - 01:55 PM
GBP$ firm into NorAm close, +0.17% at 1.2520; Thursday range 1.2523-1.2446
Pair sank to 2-wk low 1.2446 post-dovish BoE hold; Ramsden flips to cut tack
U.S. claims rise lifts more-dovish Fed view, UST yields dip aids GBP bid
BoE, claims whipsaw leaves sterling fragile nL1N3HC1I0
U.S., UK CPI May 15/22 in focus for more clarity on cenbank policy path
IRPR indicating June cut odds near 50%, Aug fully priced, -57bp by Dec MPC
Fed rate view less dovish, 1st cut seen in September- 20% odds, -46bp by Dec
Res 1.2524 the 30-DMA, 1.2544 200-DMA, 1.2593 May 6 high
A close above 1.2596, 50% Fib of 1.2894-1.2299 may add to bullish fervor
Source:
Refinitiv IFR Research/Market Commentary