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May 12 - 11:55 AM

GBP/USD - Retreats After 74 Pip Rally From Post-U.S. CPI Low

By Rob Howard  —  May 12 - 09:41 AM
  • Cable met headwind just beyond 1.4150 after extending north from 1.4080

  • 1.4080 was two-day low after much higher than expected U.S. inflation data

  • See: nL1N2MZ16QnL1N2MZ15U. 1.4108 = low since 1.4154 high at 1307GMT

  • 1.4108 was also the Asian session low (before rise to 1.4147 Ldn am high)

  • U.S. money markets bet on a full rate hike by end-2022 nL8N2MZ5FO

  • BREAKINGVIEWS-Three scarcities makes Jay Powell's life harder nL8N2MZ5SY

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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