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Refinitiv
May 28 - 04:55 AM

GBP/USD - Consolidates Gains As UK Gets Back To Business

By Rob Howard  —  May 28 - 03:40 AM
  • Cable has traded a 15 pip range thus far Tuesday; 1.2768-1.2783

  • 1.2783 is high since March 21. 1.2768 is seven pips above last week's peak

  • Pound supported by expectation of another BoE rate hold on June 20

  • More than 100 business leaders back Labour Party ahead of UK election

  • Labour is expected to win majority of seats on July 4 nL8N3H44A6

  • CFTC data showed flip to net GBP long before hotter than expected CPI data

Source:
Refinitiv IFR Research/Market Commentary

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