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May 11 - 02:55 AM

GBP/USD - Holds Above 1.23 Ahead Of U.S. Inflation Data

By Rob Howard  —  May 11 - 02:30 AM
  • Cable has traded a 35 pip range thus far Wednesday; 1.2309-1.2344

  • That range is within Tuesday's parameters (1.2292-1.2375), and Monday's too

  • 1.2262-1.2405 was Monday's range (1.2262 = lowest level since June 2020)

  • U.S. April CPI data due at 1230 GMT; core f/c +6% YY, headline f/c +8.1% YY

  • See: nL2N2X212E. 50 bps Fed hikes expected in June and July nL2N2X21PD

  • UK to enter recession this year, think-tank NIESR forecasts nL5N2X2762

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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