By Randolph Donney — Dec 16 - 02:35 PM
Modest new two-and-half year 1.3555 high for GBP/USD, pre-Fed pullback
Early gains trimmed amid dollar's risk-off recovery on sales data miss
Comes after 3.2% rebound from Friday's Brexit angst-driven low
Cable dips below unchanged after Fed disappoints reflation traders
Close above 2019's 1.3516 is needed to signal a bigger upside breakout
Pound's rise partly based on Brexit deal that's yet to be agreed
But selling of the haven dollar is also integral to cable's uptrend
Poor U.S. sales, post-Fed yield rise, stocks slide trim cable's rally
BOE seen steady Thursday, rate cuts next year if no-deal Brexit
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Source:
Refinitiv IFR Research/Market Commentary