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Feb 29 - 08:55 AM

GBP/USD - Falls To Intra-Day Low Before US Core PCE Data

By Rob Howard  —  Feb 29 - 07:35 AM
  • Cable hits 1.2641 (intra-day low) after sliding from 1.2673 (Ldn am high)

  • Drop precedes US Jan core PCE data at 1330 GMT; 0.4% MM, 2.8% YY forecast

  • Softer than expected prints might inflate GBP/USD towards 1.27 resistance

  • Offers pre-1.27 capped Monday-Tuesday gains. 1.2622 was Wednesday's low

  • Lombardelli to join BoE as deputy governor on July 1, replacing Broadbent

  • UK mortgage approvals up. Congress makes last-minute bid to avert shutdown

Source:
Refinitiv IFR Research/Market Commentary

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