By Andrew M Spencer — May 07 - 07:40 PM
-0.05%, with the U.S. dollar a touch firmer to start the week - UK holiday
Bank of England widely expected to hike rates 25pts to 4.5% on May 11
Strong March CPI at 10.1% expected to prompt another hike - BoE outlook key
Pomp and splendour of King Charles' coronation went off without a hitch
Charts; momentum studies, 5, 10 & 21-day moving averages rise
21-day Bollinger bands expand - technical setup suggests higher
Targets a test of 1.2666 May 2022 top, then 1.2751 61.8% 2021-2022 fall
NY 1.2559-1.2652 range is the initial support and resistance
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Source:
Refinitiv IFR Research/Market Commentary