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May 27 - 08:55 AM

GBP/USD - Retreats From One-Month High Before U.S. Data

By Rob Howard  —  May 27 - 07:10 AM
  • Cable hits 1.2586 after falling further from 1.2666 (one-month high in Asia)

  • 1.2586 = intra-day low. Drop precedes U.S. April core PCE data at 1230 GMT

  • Core PCE is Fed's preferred inflation measure; 4.9% f/c nL2N2XI0ED

  • Higher than expected number could further deflate GBP/USD towards 1.2550

  • There is a huge 1.2550 option expiry for Tuesday's month-end NY cut

  • See: nL2N2XI0IG. 1.2551 was Thursday's low (1.2553 was NY low Thursday)

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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