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Dec 26 - 01:55 PM

GBP/USD - Hovers Near Flat In NorAm Afternoon Amid Light Holiday, Year-End Flows

By Paul Spirgel  —  Dec 26 - 01:05 PM
  • GBP$ held slight gain in early NY +0.02% at 1.2707; Tues range 1.2720-1.2689

  • FXHEAT on Eikon indicates well below-average trading volume on Rtrs Matcjing

  • Liquidity light owing to Boxing Day holiday closures, light holiday staffing

  • Rates remain key driver; BoE seen -140bp in 2024, Fed -152bp may temper gain

  • No significant UK data into 2023 YE; Fed jobless claims Dec 28

  • GBP$ supt at 10DMA 1.2689, 23.6% Fib of 1.2070-1.2793 1.2622, 200-DMA 1.2517

  • Res 1.2743 Dec 22 high 1.2793 Dec 14 high, 1.2835 55-DMA caps

Source:
Refinitiv IFR Research/Market Commentary

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