• GBP$ soft into NY cls, still +0.62% at 1.3090; Thurs range 1.3207-1.2971

• Pair rallied to new 2025 high at 1.3207 o/n amid heightened US stagflation

• Trump broad tariff levies stirs significant risk selloff; yields, stox dive

• Sterling bulls stampede higher amid rising US stagflation concerns

• Fundamentally, UK rates above US in near term supports further GBP gains

• Res 1.3146 upper 30-d Bolli, 1.3207 Thurs flash high, 1.3285 Oct 3 high

• Supt 1.3090 hrly pullback low, 1.3054 23.6% Fib of 1.2560-1.3207, 1.2950 10-DMA

GBP Chart:

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