• GBP/USD -0.15% in Asia Fri as leadership challenge brews and USD firms

• Andy Burnham's election clears route to oust UK Prime Minister Starmer

• BoE votes 7-2 to keep 3.75% policy rate on hold, wary of climbing inflation

• USD index hits 100.92 13-month high as Strait of Hormuz oil starts moving

• Increasing probability of Fed rate hikes underpins strengthening USD

• GBP downside extension in full swing, 1.3160 now looks like easy target

• UK May retail sales due Fri, Reuters poll consensus +0.5% m/m, +1.9% y/y

• Range Asia 1.3186-1.3211, support 1.3160 1.3040, resistance 1.3867 1.4250
GBP Daily 55-DMA


DXY Daily 55-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)