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Feb 14 - 03:55 PM

GBP/USD - Ekes Out Gain After CPI, Traders Focus On UK Inflation Wednesday

By Paul Spirgel  —  Feb 14 - 01:40 PM
  • GBP$ ending NorAm +0.36% at 1.2180, Tuesday range 1.2269-1.2120

  • Pair soared momentarily after CPI surprised higher, holds slight gain

  • Market braces for UK CPI Wednesday for hints at BoE policy path

  • Sterling dips after CPI rise lifts US rates, UK CPI moves into focus

  • Wed UK Core CPI m/m f/c -0.5% vs +0.5% pvs; CPI 10.3% vs 10.5% pvs

  • Supt at 10-DMA 1.2129, Tues low 1.2120, daily cloud top 1.2085

  • Res 1.2195 hrly Tenkan line, 1.2269 Tues high, 1.2401 Feb 2 high

Source:
Refinitiv IFR Research/Market Commentary

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