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Aug 26 - 01:55 PM

GBP/USD - Slips Amid Holiday Liquidity; Hovers Near Friday's 2024 High

By Paul Spirgel  —  Aug 26 - 01:25 PM
  • GBP$ soft in NY afternoon, -0.13% at 1.3202; NorAm range 1.3208-1.3181

  • UK out for bank holiday, late summer liquidity keeps pair in tight range

  • USD slightly, but broadly, bid after dovish Powell Jackson Hole comments

  • September Fed policy shift in the cards, size remain a question

  • Powell tipped to shift to jobs focus from inflation; NFP Sept 7 hey data set

  • GBP$ res at 1.3222 Mon high, 1.3230 Friday high, 1.3299 Mar 23 2022 high

  • Supt 1.3181 Monday low, 1.3165 rising upper 30-d Bolli, 1.3087 Friday low

  • Series of higher high, higher lows ends may hint a diminishing demand

  • Though holiday may have played a factor in bullish temperance

Source:
Refinitiv IFR Research/Market Commentary

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