By Justin Mcqueen — May 26 - 12:05 PM
GBP/USD hovers at weekly lows, despite better than f/c UK retail sales
Aggressively priced BoE hikes to limit downside for now 0#BOEWATCH
Yield support should offset stagflation fears as BoE becomes hawkish outlier
BoE hawk prefers to lean against inflation risks via additional rate hikes
Firm U.S. data has reduced yield advantage as Fed hikes come back into focus
Pivotal support at 100DMA (1.2289), break likely accelerates weakness
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Source:
Refinitiv IFR Research/Market Commentary