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May 03 - 08:55 AM

GBP/USD - Respects Monday's High Ahead Of US Jobs Report

By Rob Howard  —  May 03 - 06:35 AM
  • Cable meets headwind by 1.2569 after rising from 1.2541 (early London low)

  • 1.2569 was Monday's peak (high since April 11). 1.2472 was Thursday's low

  • US jobs report due 1230 GMT: April NFP f/c at 243k; jobless rate f/c at 3.8%

  • NFP miss might inflate GBP/USD to 1.26 (1.2596 is 50% of 1.2893-1.2299)

  • Another BoE rate hold expected next week (May 9); will cut follow in June?

  • UK public sector productivity goes from bad to worse, ONS data shows

Source:
Refinitiv IFR Research/Market Commentary

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