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Jun 14 - 03:55 PM

GBP/USD - Slammed As Hawkish Fed Rate Path Pulls Away From Tepid BoE

By Paul Spirgel  —  Jun 14 - 01:40 PM
  • GBP$ slide continues unabated, -0.9% to 1.2020; Tues range 1.2210-1.1989

  • Rate divergence, post-Brexit uncertainties major factors in GBP weakness

  • Diverging Fed-BoE rate expectations push GBP$ to new 2-year low nL1N2Y1160

  • Fed, BoE Wed-Thurs; Fed seen +75bp, BoE 50% odds for 50bp

  • GBP$ supt 1.1989 Tues low, 1.1972 2nd pivot point, 1.1788 Mar 26 2020 low

  • Res 1.2058's 10-HMA, 1.2115 lower 30-d Bolli, 1.2210 Tuesday high

  • EUR/GBP +1.26% to 0.8684, Tues range 0.8688-0.8553; BoE rate path a bit below ECB

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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