By Andrew M Spencer — Oct 15 - 08:45 PM
Off 0.1% after closing up 0.1% - resilient with the U.S. dollar unchanged
BoE rate expectations steady after UK jobs - 80% chance of a Nov 7 25pt cut
Investors are wary of increased yields ahead of the October 30th budget
UK's CPI and PPI today will be key for Bank of England rate expectations
Charts- negative daily momentum studies as 21-day Bollinger bands expand
5, 10 & 21-day moving averages crest or slide above resilient support
1.3002 September low is holding - 1.2900, 0.382% Apr-Sep rise next support
1.3083 10-DMA is close then the 1.3133 high last week are first resistance
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Source:
Refinitiv IFR Research/Market Commentary