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Jun 11 - 03:55 PM

GBP/USD - Steady Amid European Political Angst And UK Wage Rise

By Paul Spirgel  —  Jun 11 - 01:35 PM
  • GBP$ hovers near flat at 1.2733 in NY afternoon, Tues range 1.2750-07

  • Long-end UST yields slip aids GBP rise; higher UK wages adds to bid

  • GBP bid aided by EURGBP slide on Europe/French political uncertainty

  • How can sterling crack the range? nL1N3I90JH

  • Wed UK data includes Apr GDP EST, UK outputs, trade balance

  • Key events: US CPI 8.30AM NYT, Fed rate decision and presser 2/2.30PM NYT

  • Res 1.2752 falling 10-DMA, 1.2757 50% of 1.2825-1.2689, 1.2825 Jun 7 high

  • Support 1.2707 Tuesday low, 1.2680 May 30 low, 1.2639 100-DMA

Source:
Refinitiv IFR Research/Market Commentary

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