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May 03 - 07:55 AM

GBP/USD - Remains Above 1.25 As Fed, BoE Event Risks Loom

By Rob Howard  —  May 03 - 06:00 AM
  • Cable has held above 1.2500 since the London open; 1.2554 = intra-day high

  • 1.2554 is also the highest level since Monday's low of 1.2474 nL2N2WV09W

  • Rise to 1.2554 followed RBA's larger than expected 25 bps hike nL2N2WV05D

  • Chance of 50 bps BoE hike Thursday up to 30% after RBA surprise nL2N2WV0C7

  • FOMC event risk precedes BoE MPA; 50 bps Fed hike expected on Wednesday

  • 1.2412 was 21-month GBP/USD low on Apr 28, before month-end rally to 1.2613

GBPUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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