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May 26 - 01:55 PM

GBP/USD - Struggles To Benefit From Yield Advantage

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

For more click on FXBUZ

Refinitiv IFR Research/Market Commentary


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