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Jan 10 - 04:55 AM

GBP/USD - Hugs 1.27 Before BoE Chief Bailey's TSC Testimony

By Rob Howard  —  Jan 10 - 03:05 AM
  • Cable has traded a 31 pip range thus far Wednesday; 1.2687-1.2718

  • 1.2687 is three pips under Tuesday's base. 1.2675 was Monday's low

  • BoE chief Bailey and fellow MPC member Breeden to address TSC from 1415 GMT

  • Bailey is expected to be relatively hawkish (as per last month)

  • US Dec CPI data due Thursday; core CPI forecast at 3.8% YY vs 4.0% in Nov

  • 1.2735 and 1.2771 (Jan 5 high) are GBP/USD resistance levels beyond 1.2718

Source:
Refinitiv IFR Research/Market Commentary

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