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Mar 24 - 07:55 AM

GBP/USD - Helped Off Two-Day Low By UK Service PMI Beat

By Rob Howard  —  Mar 24 - 06:25 AM
  • GBP/USD rises to 1.3185 after UK service PMI beat, 61 vs 58 f/c nZRN0043F7

  • 1.3157 was 2-day low circa 0900 GMT (pre-UK PMIs) vs 1.3205 early Ldn high

  • UK service PMI beat underpins expectation of more 25 bps BoE hikes in Q2/Q3

  • Quarter-point BoE hikes fully priced for May, June, August and September

  • BOEWATCH. 1.3121-1.3299 is intra-week range-to-date for cable nL2N2VR0DS

  • UK's Sunak criticised over response to cost of living crisis nL5N2VR2I9

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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