• GBP$ slips to session lows in NY afternoon +0.51% at 1.3348; NY range 1.3390-46

• Early sterling rise on U.S. downgrade, in-court EZ HICP pared into NY close

• Focus on UK CPI Mar 21; core y/y f/c 3.6% vs 3.4% pvs, CPI f/c 3.3% vs 2.6% pvs

• Recent UK data, hawkish BoE cut has reduced dovish BoE expectation in HS '25

• GBP$ supt 1.3346 Noram session low, 1.3278 Monday low, 1.3248 rising 30-DMA

• Res 1.3403 Monday Europe high, 1.3445 2025 high on Apr 28, 1.3545 upper 30d Bolli

GBP Chart:


(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)