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May 28 - 03:55 PM

GBP/USD - Regains 10-DMA, Eyes 2021 High By 1.4240 Ahead Of US, UK Holidays

By Paul Spirgel  —  May 28 - 01:38 PM
  • GBP/USD ending NorAm near flat, -0.02% at 1.4198; Fri range 1.4205-1.4137

  • Pair slipped after upbeat US infl data nL2N2NF13V, USD unable to hold gain

  • Traders unwind post-data USD longs ahead of Monday's UK, U.S. holidays

  • Sterling slips below 10-DMA after upbeat PCE, income data nL2N2NF19S

  • Near-term transitory Fed inflation view tempers USD, NFP next week in focus

  • Hawkish BoE tones keeps GBP near trend highs vs USD and other majors GBPX=

  • EUR/GBP by 15-month low ends NY 0.8593, +0.09%; Fri range 0.8605-0.8576

GBP Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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