By Paul Spirgel — Apr 21 - 01:40 PM
GBP$ ends NY -0.15% at 1.2427, early dip pared, NY range 1.2433-1.2368
UK RS misses, U.S. PMI beats shrugged off bulls keep focus on UK rate path
Sterling under pressure after UK RS miss, US PMI beats nL1N36O1DA
Bullish tone prevails, for now, despite several tests of 21-DMA support
GBP$ supt at 21-DMA 1.2403, Apr 17 low 1.2353, 30-DMA 1.2340
Res Fri high 1.2443, April 19 high 1.2475, 2023' Apr 14 high 1.2545
UK inflation-recession angst, high-for-longer Fed path stalls further ascent
EUR/GBP +0.2% at 0.8833, Fri range 0.8861-14; EZ svcs PMI rise hints at EZ recovery
Source:
Refinitiv IFR Research/Market Commentary