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Dec 12 - 08:55 AM

GBP/USD - Knocks On 1.23 Door Pre-U.S. CPI Data Tuesday

By Rob Howard  —  Dec 12 - 08:15 AM
  • Cable has traded 89 pip range thus far Monday; 1.2207-1.2296 nL1N3320J0

  • Offers expected from 1.2300 -- at least before U.S. CPI data on Tuesday

  • Softer than expected U.S. CPI print could propel GBP/USD towards 1.25

  • Cable was last at 1.25 on June 10. UK jobs data due Tuesday at 0700 GMT

  • UK Nov CPI data due Wednesday; 10.9% YY f/c vs 41-year high of 11.1% in Oct

  • Fed and BoE are both expected to hike rates by 50 bps this week nL1N33209D

Source:
Refinitiv IFR Research/Market Commentary

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